Clark Freeport's Internal Trade Soars to P4.55 Billion Through Business Interdependence
The Clark Freeport Zone has announced a remarkable achievement, with internal trade among its locator companies reaching a substantial P4.55 billion in the first year of its groundbreaking Business Interdependence System (BIS). This program, spearheaded by the Clark Development Corporation (CDC), is designed to fortify domestic supply chains and enhance the operational resilience of businesses, a critical need in today's volatile global market.
Conference Highlights Growth and New International Alliance
This significant financial milestone was unveiled during the second Business Interdependence Conference, held on November 21 at the Hilton Clark. The event drew more than 200 business leaders representing 119 companies, all focused on expanding partnerships and channeling investments within the Freeport.
A pivotal moment of the conference was the ceremonial signing of a Memorandum of Agreement (MOA) between the CDC and South Korea's Incheon Free Economic Zone (IFEZ). The signing was led by CDC President and CEO Atty. Agnes VST Devanadera and IFEZ Commissioner Wonsok Yun. They were joined by key figures including CDC Chairperson Atty. Edgardo Pamintuan, OSAPIEA Undersecretary Joee Guilas, and other senior officials and business leaders from both entities.
Building a Self-Sustaining Economic Ecosystem
CDC President Agnes Devanadera emphasized that the BIS is successfully creating a self-sustaining economic ecosystem within Clark. The system encourages locators to source goods and services from each other, effectively reducing procurement gaps and improving overall efficiency.
"Interdependence has bonded our locators together, creating new alliances and shared strength," Devanadera stated. "The BIS ensures that what one locator needs, another can supply, right here in Clark." Launched in 2024, the BIS actively tracks and enables business-to-business transactions among locators. The impressive P4.55 billion trade value encompasses a wide range of essentials that were previously imported or sourced externally, including:
- Raw materials
- Packaging supplies
- Construction inputs
- Food supply
- Manufacturing components
Devanadera called on companies to view local sourcing as a strategic advantage, echoing the principle that “the value of the whole is far greater than the sum of its parts.” CDC Chairperson Edgardo Pamintuan reinforced this, stating that modern development thrives best in an environment of interdependence.
Strategic Evolution and High-Level Endorsement
The CDC revealed that the BIS is now evolving into a comprehensive, policy-oriented platform. Its future role will include guiding supplier matching, tracking performance, and driving investment-focused reforms to create more predictable outcomes for investors.
The program received high-level endorsement from Finance Secretary Frederick Go, who was represented at the event by OSAPIEA Undersecretary Joee Guilas. Secretary Go praised Clark's model for its effective alignment of supply chain policy with investment promotion, remarking, “Collaboration is our greatest advantage in a rapidly changing global economy. Together, we can ensure that Clark not only grows but leads.”
A Look Ahead: Expansion and International Collaboration
The newly signed partnership with IFEZ is set to open significant avenues for regional investment and technology exchange between the Philippines and South Korea. This collaboration will support:
- Bilateral trade
- Manpower upskilling
- Knowledge-sharing initiatives
- Smart-city development
These elements are crucial for preparing Clark to attract more international investors. Looking forward, the CDC announced that the next phase of the BIS in 2026 will focus on expanding local supplier participation and deepening intra-zone linkages to maximize the collective economic value of Clark's entire business ecosystem.
