Singapore firm eyes development of industrial park in Clark
Singapore-based sustainable energy and urban solutions provider Sembcorp Industries Ltd. is exploring the development of an industrial park in New Clark City in Tarlac.
Singapore's Sembcorp Industries Ltd. is considering the development of an industrial park in New Clark City, located in Tarlac, Philippines. The PEZA announced that Sembcorp and HSBC Philippines held discussions with the Bases Conversion and Development Authority, as well as visited New Clark City for the proposed investment. This comes after Sembcorp expressed interest in establishing industrial parks similar to their successful Vietnam Singapore Industrial Parks (VSIP) model in the Philippines.
The VSIP model relies on the strong relationship between Vietnam and Singapore. PEZA believes that Sembcorp's proposed industrial park would bolster the Philippines' position as a competitive investment hub in the region. New Clark City is deemed a strategic location due to its modern infrastructure and potential as an attractive investment destination.
The city is situated along the Luzon Economic Corridor (LEC), which aims to enhance connectivity, promote sustainable industrial development, and drive inclusive growth across Luzon's key growth centers. The LEC, launched by the Philippines, United States, and Japan in 2024, has received support from other countries, including Australia, Denmark, France, Italy, South Korea, Sweden, the United Kingdom, and Canada. Most of PEZA-managed ecozones are situated within the LEC.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
