Clark: A Model of Investment and Business Resilience – APEC 2015

“Clark remains to be a model of investment and business resilience.”

This is what Foreign Affairs Undersecretary Laura del Rosario stated in the recently concluded Asia Pacific Economic Cooperation (APEC) 1st Senior Officials Meeting (SOM) which transpired at the Fontana International Convention Centre in Clark, Pampanga last February 6-7, 2015.

As she welcomed the senior officials of the member economies, Del Rosario, also the SOM chair, shared to the audience how Clark “transformed itself from a military base to an industry hub that is supported by foreign investor confidence”.

Clark Freeport Zone is a redevelopment of the former Clark Air Base, a former United States Air Force Base in the Philippines. Today, Clark forms the hub for business, industry, aviation, education, and tourism in the Philippines as well as a leisure, fitness, entertainment, and gaming centre of Central Luzon.

With the theme “Building Inclusive Economies, Building a Better World, the Philippines is the host for the APEC meetings this year, with Clark & Subic being the venue for the first one. Succeeding meetings are to be held in other parts of the country, including Manila, which is the venue for the final one in November.

According to Emmanuel Esguerra, deputy director-general of National Economic and Development Authority (NEDA), the country’s chairmanship at the APEC makes it very strategic since it would open more opportunities for local small and medium enterprises (SMEs) to find their way to global value chains (GVC). “In fact, among APEC economies, the Philippines has the highest GVC participation in electrical and optical equipment,” he said.

All the discussions of the working groups meetings, she said, were the four APEC 2015 priorities – advancing the Regional Economic Integration Agenda; fostering SMEs’ participation in regional and global markets; investing in human capital development; and building sustainable and resilient communities. The Philippines as Host Economy shall seek to mainstream and pursue its priorities into the agenda and economic policy thrusts of the member economies in the Asia-Pacific region.

We at The Outsourced Accountant have chosen Clark as our home here in the Philippines because of its talented workforce, economic area, and modern infrastructure. Moreover, it has its own international airport, and is accessible to expressways and variety of amenities.


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