The Malaysian government has expressed interest to invest in the development of the Clark Green City Project, the National Economic and Development Authority (NEDA) said.
Ernesto Pernia, socioeconomic planning secretary, said there are strong expressions of funding support for the country’s massive infrastructure build-up.
Those that have expressed interest include bilateral and multilateral partners, such as the World Bank, the Asian Development Bank, Japan, China, South Korea, and Malaysia
“They (Malaysian government) has a proposal for the Green City to put the institutions there, to organize it,” Pernia said, saying Malaysia has experience in this kind of development in Putrajaya.
Putrajaya is the federal administrative centre of Malaysia. The seat of government was shifted from Kuala Lumpur to Putrajaya, because of overcrowding and congestion in the former.
“I guess they’ll have to make a proposal,because nobody has made a proposal yet,” Pernia said.
Clark Green City is envisioned to be a catalyst for economic development given its environmentally sustainable, socially inclusive and technologically integrated features, and strategic location in Capas, Tarlac.
At full development, Clark Green City will have some 1.12 million residents, 800,000 workers and contribute a gross output of approximately P1.57 trillion per year to the national economy or roughly four percent share in the county’s Gross Domestic Product (GDP).
In early 2016, the Bases Conversion and Development Authority (BCDA) offered for public tender the privatization and development of phase 1 of Clark Green City through the formulation of a joint venture company between BCDA and a private sector proponent, which has the expertise in land development and management.
BCDA selected, through public bidding, Filinvest Land Inc. (FLI) as its partner in the planning, development and management of mixed-use and industrial components of phase 1.
The selection and award entitled FLI to 55 percent of the outstanding capital stock of the JVC.