Editorial
Clark Top Global Free Zone
July 16, 2012
Manila Bulletin
MANILA, Philippines — The Clark Freeport Zone has been recognized as among “The Top Global Free Zones” for 2012-2013 by an International Business Magazine, the Foreign Direct Investment (FDI) Magazine, published by the Financial Times Business Group of London, citing its potentials as a world-class economic haven. With this recognition, more foreign and local investors are expected to relocate or set up their business in the sprawling freeport zone in Pampanga.
First quarter data from the Clark Development Corporation, the administrator of the 4,500-hectare Freeport, showed that there are today more than 533 locators at the Clark Freeport Zone, employing at least 65,000 workers. A subsidiary, Clark International Airport Corporation, runs the international airport, which has been ranked third in FDI Magazine’s top five best Freeport airport in the world for 2012-2013.
The FDI Magazine ranked the Clark Freeport Zone Number 8 in a survey of 600 zones in 120 countries.
The FDI Magazine has a readership of 47,000 senior decision-makers involved in overseas investment around the world. The magazine had previously cited Clark Freeport Zone in 2010, ranking it as 7th in the top 10 Best Economic Potential among the Global Free Zones of the Future for 2010-2011.
The former United States Air Base was transformed into an economic zone when US military personnel left in 1991. After a cleanup and airfield upgrading, Clark Air Base was opened to investors and businessmen who set up factories and offices. Today, Clark is a business and industry center, as well as entertainment and leisure center in Central Luzon. On March 20, 2007, it was named Clark Freeport Philippines, pursuant to Senate Bill 2260, entitling investors to the same tax-free and other duty-free privileges enjoyed by their counterparts at the Subic Bay Freeport.
We greet the Clark Development Corporation led by Chairman and Officer-In-Charge Retired General Eduardo S.L. Oban Jr., Executive Vice President and Chief Operating Officer Philip Jose B. Panlilio, Vice President for Business Development Ernesto S. Gorospe, Vice President for Corporate Services Pepito M. Galang, Vice President for Operations Franco Alejo L. Madlangbayan, other Officers and Personnel. CONGRATULATIONS AND MABUHAY!
First quarter data from the Clark Development Corporation, the administrator of the 4,500-hectare Freeport, showed that there are today more than 533 locators at the Clark Freeport Zone, employing at least 65,000 workers. A subsidiary, Clark International Airport Corporation, runs the international airport, which has been ranked third in FDI Magazine’s top five best Freeport airport in the world for 2012-2013.
The FDI Magazine ranked the Clark Freeport Zone Number 8 in a survey of 600 zones in 120 countries.
The FDI Magazine has a readership of 47,000 senior decision-makers involved in overseas investment around the world. The magazine had previously cited Clark Freeport Zone in 2010, ranking it as 7th in the top 10 Best Economic Potential among the Global Free Zones of the Future for 2010-2011.
The former United States Air Base was transformed into an economic zone when US military personnel left in 1991. After a cleanup and airfield upgrading, Clark Air Base was opened to investors and businessmen who set up factories and offices. Today, Clark is a business and industry center, as well as entertainment and leisure center in Central Luzon. On March 20, 2007, it was named Clark Freeport Philippines, pursuant to Senate Bill 2260, entitling investors to the same tax-free and other duty-free privileges enjoyed by their counterparts at the Subic Bay Freeport.
We greet the Clark Development Corporation led by Chairman and Officer-In-Charge Retired General Eduardo S.L. Oban Jr., Executive Vice President and Chief Operating Officer Philip Jose B. Panlilio, Vice President for Business Development Ernesto S. Gorospe, Vice President for Corporate Services Pepito M. Galang, Vice President for Operations Franco Alejo L. Madlangbayan, other Officers and Personnel. CONGRATULATIONS AND MABUHAY!
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