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Thursday, October 3, 2019

Central Luzon is top PHL investment destination

Central Luzon is exerting all efforts to strengthen its position as a dynamic investment destination in the Philippines, with its strategic location, accessibility to three international airports, expanding infrastructure facilities, and the highly anticipated full development of the New Clark City.

With all that Central Luzon as a region can offer as a growth corridor, many business opportunities will be by enjoyed participants and exhibitors at the first ever Central Luzon Expo (CLExpo) set on Oct. 17 to 18, at the ASEAN Convention Center in Clark Freeport Zone.

With theme “Opportunities, Progress, The Future,” CLExpo will gather international and local business communities, potential investors, embassies, national and local government agencies, academic institutions, and other stakeholders to explore the investment potentials of the provinces of Aurora, Bataan, Bulacan, Nueva Ecija, Pampanga, Tarlac, and Zambales.

Behind this pioneering project is the Central Luzon Growth Corridor Foundation, Inc. (CLGCFI), in cooperation with the Department of Trade and Industry-Region 3 (DTI-3). CLGCFI is composed of the seven governors of the provinces of Aurora, Bataan, Bulacan, Nueva Ecija, Pampanga, Tarlac and Zambales, DTI Undersecretary for Industry and Investments, and DTI-3 Regional Director.

“We have a vision for Central Luzon and we are committed to promoting and developing the region’s small and medium enterprises and enhancing the local government’s competitiveness, all for creating a business and investment-enabling environment and promote the region to local and international investors as North Luzon’s main business hub,” said Tarlac Governor and CLGCFI president Susan Yap.

The Expo will highlight the region in the areas of trade, tourism, and investment, host business-to-business meetings, and showcase provincial products, services and destinations.

According to 2018 DTI figures, Central Luzon boasts of a 7.1 percent growth rate in gross regional domestic growth, contributing to 0.7 of the country’s 6.2 percent GDP (Gross Domestic Product) growth. GRDP (Gross Regional Domestic Product) of Central Luzon amounted to Php 904,021 billion.
Export is also one of the earning sectors in Central Luzon with USD8.195 billion in earnings. Pampanga is the top major exporting province of Central Luzon with exports amounting to USD4.915 billion, representing 61.68 percent of total exports of the region.

 Central Luzon’s export partners include China, Hong Kong, Japan, South Korea, Taiwan, Germany, Malaysia, Singapore, Thailand the US.

Central Luzon is also a mega logistics hub hat provides world-class logistics infrastructures and services. The Clark Freeport Zone, Subic Bay Freeport Zone, Freeport Area of Bataan, Angeles Industrial Park, San Simon Industrial Park, and Luisita Industrial Park are among the industrial estates and economic zones suitable for areas for business equipped with incentive perks, infrastructure support and competitive cost of doing business.

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