Metro Clark set to be 2nd Largest PH Economic Hub

Metro Clark set to be 2nd Largest PH Economic Hub

Last September, Angeles City Mayor Edgardo Pamintuan and Vice Mayor Vicky Vega-Cabigting attended a workshop that tackled the prospective future of the city, together with the Central Luzon Metropolitan Area, as “the second metropolis” of the Philippines.

During the second quarter of this year, the plans for Clark Green City was unveiled. President Benigno Aquino III, in his State of the Nation Address, proclaimed that Clark Green City “will serve as a center of commerce and industry, not only in Central Luzon but the entire country”. He added, “Our vision for Clark Green City is that it becomes even bigger than the Bonifacio Global City. Formerly isolated places will now become areas teeming with opportunity.”

According to Bases Conversion Development Authority (BCDA), the rise of educational standards here in the city plus the booming population will allow the Metro Clark area to be the 2nd largest Philippine Economic Hub and Mega-City after Manila. BCDA tied up with the University of the Philippines, the country’s premier state university, in establishing an educational hub. The said university will be CGC’s first locator as it sets up a global campus. Aside from education, the presence of Business Process Outsourcing on online service companies in Angeles, San Fernando, and Clark, is considered one of the main drivers of the said economic growth.

According to Rick Santos, chairman and chief execujtive officer of property consultancy firm CBRE Philippines, 80% to 90% of the 700,000 square meters (sqm) on stock this year are for BPO operations, but the country is well positioned to be the site in 2016 for the Association of Southeast Asian Nations (ASEAN) headquarters as the economies of the region integrate next year. Meanwhile, the Philippines ranks 7th amongst 51 countries as a prime BPO location at the 2014 AT Kearney Global Services Location Index.

The strengthening of the global manufacturing sector, coupled with stable lease rates are boosting industrial operations in the country, with players looking into the areas outside the usual Central Business Districts (CBDs), such as in Clark and Cebu.^

Currently, the Angeles City Branding Team of City Information Office (CIO) launched a branding strategy for the city to promote the development of the city, along with its tourism, culture and business capabilities, among others.

The Outsourced Accountant  supports Australian and New Zealand accounting firms by helping them understand and implement outsourcing solutions to help them become more proactive and truly add value to their clients. If you want to know more about outsourcing, call us at 1300 896 522, and download our e-book.

 

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^http://www.rappler.com/business/industries/175-real-estate/70006-non-bpo-favor-philippines

 

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