BCDA expects P100 billion in investment approvals this year on Pax Silica, New Clark City

The Bases Conversion and Development Authority expects investment approvals to exceed P100 billion this year, driven by interest in New Clark City and projects under the US-led Pax Silica initiative. First-half approvals surged 535 per cent to P49.98 billion, led by aviation and logistics firms expa

INVESTMENT APPROVALS of the Bases Conversion and Development Authority (BCDA) are expected to exceed P100 billion this year, fueled by growing investor interest in New Clark City and upcoming projects under the US-led Pax Silica initiative.

“If we count the whole year, we will breach P100 billion in investments,” BCDA President and Chief Executive Officer Joshua Bingcang said during a forum hosted by the Foreign Correspondents Association of the Philippines on Monday. “In a few years, we might be at the same level of the BoI (Board of Investments) in terms of investments generation,” he said.

The BCDA’s project pipeline includes the P25-million expansion of logistics apron and access roads, as well as the construction of a P155-million runway in Clark International Airport (CIA). Also in its pipeline is the construction of a P1.4-billion apron to support logistics firms within CIA, along with a P10-billion runway and taxiway project. “Last week, we approved the procurement for the construction of the apron. It will serve as the parking space for FedEx and UPS planes, and other logistics companies going to put up business in Clark,” Mr. Bingcang said.

Mr. Bingcang also noted that Science Park of the Philippines, Inc. is building a 106-hectare industrial park in New Clark City. Construction is expected to begin within the fourth quarter of this year. BCDA also plans to sign a memorandum of agreement with the Home Development Mutual Fund (Pag-IBIG Fund) to build economic housing units in New Clark City for workers based in the area.

He said that the National Commission on Indigenous Peoples (NCIP) has issued a no-objection letter for the North-South Commuter Railway (NSCR). “So, we’re seeing now the greenlight for this project to extend all the way to New Clark City,” Mr. Bingcang said. The 147-kilometer NSCR will connect Malolos, Bulacan with Clark International Airport, and Tutuban, Manila with Calamba, Laguna.

The BCDA is also looking to bid four hectares of land near the Market! Market! commercial property in Taguig City by the first quarter of 2027. “Only the mall was renewed by Ayala Land, Inc. The rest will be open for public bidding… that will be the site for the Mega Manila subway station in BGC (Bonifacio Global City),” Mr. Bingcang said, noting that about four Japanese developers are interested in the property.

Meanwhile, Trade Undersecretary Ceferino S. Rodolfo said the artificial intelligence (AI)-native industrial hub in New Clark City in Tarlac under the US’ Pax Silica bloc is one of several “nodes” that will build the “Philippine technology corridor” connecting the technology value chain across manufacturing, minerals, talent, and digital infrastructure. “Viewed separately, they are projects, but viewed through the AI lens, they become an ecosystem that creates long-term competitive advantage,” Mr. Rodolfo said.

In the first six months, BCDA-approved investments surged by 535.11 per cent to P49.98 billion from P7.87 billion in the same period a year ago. Investment activity was mainly in the Clark Freeport and Special Economic Zone (CFSEZ) in Pampanga and Tarlac provinces, as well as Camp John Hay in Baguio City. The aviation sector accounted for more than half or 68 per cent of BCDA-approved investments as of end-June at P33.91 billion, attributed to major foreign aviation and logistics companies expanding in Clark, including Lufthansa Technik Philippines, Inc., Federal Express Corp., and UPS International.