Clark Development Corp. (CDC) was instrumental in the Philippines achieving a P1.9-trillion investment increase in 2024, reflecting a 29 percent rise from the previous year.
Special Assistant to the President for Investment and Economic Affairs (SAPIEA) Secretary Frederick Go lauded CDC’s significant role in the nation’s investment growth.
He recognized CDC among the leading investment promotion agencies (IPAs) driving the country’s economic expansion.
The Board of Investments (BOI), the Philippine Economic Zone Authority (PEZA) and the Bases Conversion and Development Authority (BCDA) were also recognized for their significant contributions.
Go said CDC and BCDA recorded the largest investment increases in 2024 compared to 2023.
“We’d just like to point out that the big three agencies that contributed to the performance last year are the Board of Investments, PEZA, and CDC. The fourth one, if we go one more, it’s BCDA. In 2023, it was BOI, PEZA, AFAB, and SBMA. In 2024, it was BOI, PEZA, CDC and BCDA,” Go said.
He said a significant portion of the P1.9 trillion in approved investments was domestic, with 100-percent Filipino-owned companies accounting for P618 billion, representing 32 percent of the total.
“I think the only thing worthwhile for me to point out here is that they [approved investments in 2024] are largely domestic rather than foreign,” Go said.
Under the leadership of CDC president and chief executive Agnes VST Devanadera, Clark continues to attract significant investments, reinforcing its role as a key driver of economic growth.
“I just hope that you look at this slide and be inspired to also be a top contributor to your country’s investment promotion efforts in 2025 up to 2028. So I think with CREATE MORE, all of us now have an equal opportunity to offer to all the investors,” Go said.
The meeting, hosted by the Department of Trade and Industry-Board of Investments (DTI-BOI), gathered key government officials to discuss streamlining IPA roles, aligning investment strategies, and maximizing incentives under the newly signed Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Implementing Rules and Regulations (IRR).
Discussions also focused on preparing for international investment roadshows to further strengthen the country’s business landscape and competitiveness.