The Bases Conversion and Development Authority (BCDA) said Monday it signed a strategic partnership with Maharlika Investment Corp. (MIC) to explore investment opportunities within BCDA properties, including Clark Freeport and Special Economic Zone.
Under the MOU, BCDA and MIC will “further discuss, share knowledge and explore potential collaboration opportunities that will lead to a development of a feasibility study report.”
The report will include potential developments within BCDA properties such as Clark Freeport Zone and Clark Civil Aviation Complex in Pampanga, New Clark City in Tarlac and Poro Point Freeport Zone in La Union, among others.
“We are optimistic that the Maharlika Investment Corp. will see our shovel-ready projects and programs as commercially and financially viable investments that will generate optimal returns for the government and for the Filipino people,” BCDA president and chief executive Joshua Bingcang said.
Among the BCDA projects are the expansion of Clark International Airport, which includes the construction of a second runway, taxiways, aprons and landside access roads and utilities; affordable housing project in New Clark City; Clark Integrated Public Transport System; Poro Point Seaport Modernization Program; Clark Central Business District; and Solid Waste Management and Waste-to-Energy Project in New Clark City.
President Ferdinand Marcos Jr. in July 2023 signed into law Republic Act No. 11954, or the Maharlika Investment Fund Act of 2023, aimed at investing in viable infrastructure projects to help catalyze economic development and accelerate the country’s growth through optimal use of government financial assets.