BCDA, NDC sign partnership for New Clark City dev’t
In Photo: National Development Company (NDC) General Manager Antonilo DC Mauricio and Bases Conversion and Development Authority (BCDA) President and Chief Executive Officer Joshua M. Bingcang sign a memorandum of understanding that establishes a collaborative framework for the urban development of New Clark City. BCDA Chairperson Hilario B. Paredes and NDC Assistant General Manager for Corporate Communications Leopoldo Acot serve as witnesses. (BCDA Public Affairs File Photo)
The Bases Conversion and Development Authority (BCDA) has formalized a strategic partnership with the National Development Co. (NDC), enabling the BCDA to tap NDC’s expertise in financing and implementing high-impact projects in New Clark City.
BCDA President and Chief Executive Officer Joshua M. Bingcang and NDC General Manager Antonilo DC Mauricio signed a memorandum of understanding (MOU) creating a collaborative framework for the urban development of New Clark City. BCDA Chairperson Hilario B. Paredes and NDC Assistant General Manager for Corporate Communications Leopoldo Acot served as witnesses.
“We thank the NDC for readily offering to share with BCDA its knowledge and expertise in financing and implementing projects, particularly in urban expansion, industrial development, and energy, among others. With more than a hundred years of experience and track record, NDC will surely become instrumental in the transformation of New Clark City into the country’s first smart, sustainable, and future-ready metropolis,” PCEO Bingcang said.
Chairperson Paredes, for his part, said: “With our shared vision to spur national development, we believe that this new partnership will enable us to implement transformative projects that will help New Clark City achieve its fullest potential.”
Under the MOU, both parties intend to discuss and explore potential collaboration opportunities, leading to the preparation of a feasibility study report that may include technical and commercial assessments of developments within the BCDA’s properties.
NDC is interested in New Clark City, a 9,450-hectare greenfield development inside the Clark Special Economic Zone positioned to be an inclusive, resilient, sustainable, and smart city. This major metropolis is being developed to help decongest Metro Manila and to serve as an investment hub to catalyze growth in Central Luzon.
GM Mauricio said this partnership will allow NDC to leverage the BCDA’s experience in building great cities, like the Bonifacio Global City, paving the way for the implementation of innovative projects that will improve the lives of Filipinos.
“We want to leverage our strategic areas with partners who understand city-building, especially the BCDA. Thank you very much to BCDA for this honor of signing an MOU with NDC,” he said.
As the government’s investment arm, the NDC pursues commercial, industrial, agricultural, and mining ventures to provide the necessary impetus to national economic development. This is aligned with the BCDA’s mission of transforming former military bases into centers of economic development. (PR)
