Category: Business and Investment
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IWG to open a 45th shared workplace at The Aurora Subic Hotel
Subic Bay Freeport – The Aurora Subic Hotel and International Workplace Group (IWG) recently signed a memorandum of agreement which will pave the way to the opening of the Regus Center at The Aurora Subic Pavilion building located in Subic Bay Freeport Zone. “IWG’s extensive global network of office space, coworking, virtual office locations and…
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Clark on the road to become global logistics and aviation hub
The Clark Civil Aviation Complex in Pampanga is taking huge leaps to become a global hub for logistics and aviation services, with support from major international players that continue to pour investments into their facilities at the Clark International Airport (CRK). Bases Conversion and Development Authority (BCDA) President and Chief Executive Officer Joshua M. Bingcang…
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Recto urges Japanese firms to invest in PH
MANILA – Finance Secretary Ralph Recto urged Japanese investors to invest in the Philippines and assured them that ongoing amendments to the country’s fiscal incentives system will address their key concerns. “To begin with, the Philippines is booming and has all the makings of a tiger economy. This makes us the most strategic safe haven…
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BCDA secures two deals during Japan trip
The Bases Conversion and Development Authority (BCDA) has formalized two agreements with Japanese organizations during a high-level visit to Tokyo, ensuring the smart and sustainable development of John Hay Special Economic Zone, New Clark City, and its other economic zones. The first deal involves a memorandum of understanding (MOU) with Zip Infrastructure Co. Ltd. to…
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Clark as aerospace hub to create more jobs
CLARK FREEPORT ZONE —The Clark International Airport Corp. on Wednesday said the development of the civil aviation complex as the Philippines’ future aerospace hub will generate thousands of aviation-related jobs and will position the country as a key player in the global aerospace industry. “Clark in the Philippines is a very viable and attractive hub…
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Subic sees more business perks under CREATE Act
SUBIC BAY FREEPORT — Investor companies located in this free port zone are expected to benefit from more business incentives as the government seeks to rationalize taxes and attract more investments under Republic Act No. 11534, or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator…
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Marcos: Cerberus, Hyundai tie up to restore PH shipbuilding glory days
MANILA – The partnership between US equity firm Cerberus and South Korea’s HD Hyundai Heavy Industries in the strategically located Subic Bay will allow the Philippines to regain its footing in the global shipbuilding industry, President Ferdinand R. Marcos Jr. said Tuesday. During the announcement of the partnership in Malacañang, Marcos welcomed the two global…
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Strong Travel Demand Drives Cebu Pacific Profit to More Than Double in Q1
Cebu Pacific (PSE: CEB), the Philippines’ leading carrier, generated P25.3 billion in revenue for the first quarter of 2024, a 21% increase from the previous year. Passenger business grew strongly, generating almost P18 billion in revenue, which was 25% higher year-on-year. From January to March, CEB flew over 5.5 million passengers, marking a 14% increase…
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SSS taps Landbank and DBP as its fund managers
The Social Security System (SSS) tapped the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP) as its new local fund managers to enhance the return on investment (ROI) from its investment portfolio for the next three years. SSS President and Chief Executive Officer Rolando Ledesma Macasaet announced that LBP-Trust…
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Foreign investment pledges up in Q3
MANILA – Total foreign investment pledges approved in the third quarter of the year increased by 109.3 percent, data released by the Philippine Statistics Authority (PSA) showed. In a report released on Tuesday, the PSA said investment pledges during the period amounted to PHP27.30 billion, up from last year’s PHP13.05 billion. The PSA said these…
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BCDA seeks JV partner for New Clark City ICT infra
The Bases Conversion and Development Authority (BCDA) is looking for a joint venture (JV) partner for the commercialization of information and communications technology (ICT) facilities in New Clark City, which is vital in achieving the new metropolis’ vision of becoming the country’s first smart urban development. The BCDA is inviting prospective bidders to submit pre-qualification…
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Forging a Future: The Transformation of the Freeport Area of Bataan
In the heart of Bataan, where history and industry intersect, a remarkable transformation is underway. The Authority of the Freeport Area of Bataan (AFAB), empowered by the updated Charter introduced through the enactment of Republic Act No. 11453, has embarked on a journey to diversify its portfolio and embrace the future. This strategic evolution, led by the…
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BCDA, IPAs invite Aussie firms to invest in Central, Northern Luzon
The Bases Conversion and Development Authority (BCDA), together with Investment Promotion Agencies (IPAs) such as the Subic-Clark Alliance for Development (SCAD), Clark International Airport Corp. (CIAC), Poro Point Management Corp. (PPMC), and Philippine Economic Zone Authority (PEZA) conducted investment briefings in Australia to encourage more investments in the Philippines, particularly in Central and Northern Luzon. …
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SBF locator to return 22.6ha of idle properties to SBMA
SUBIC BAY FREEPORT – The Philippine Guarantee Corporation (PhilGuarantee) is set to return to the Subic Bay Metropolitan Authority (SBMA) a total of 22.6 hectares of idle properties as part of a settlement agreement between both parties. SBMA Chairman and Administrator Jonathan D. Tan and PhilGuarantee President and CEO Albert Pascual signed a memorandum of…
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CIAC upbeat over air travel recovery demand
CLARK FREEPORT ZONE – The steady rise in the number of domestic and international travelers in Clark favors the government’s efforts to further develop the aviation complex, an executive of the Clark International Airport Corp. on Tuesday said. Joshua Bingcang, CIAC president, said the privately-run Clark International Airport has been registering a growth in the…
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