Clark Smart City project under way
Development of the 104.8-hectare Clark Smart City project is under way with the signing of a memorandum of understanding between Clark Development Corporation (CDC) and the Korea Land and Housing Corporation (LH).
CDC president and CEO Manuel Gaerlan and LH Chief Executive Officer Kim Hyun Jun signed the pact for the “Clark Smart City Urban Development Project” during a simple ceremony held at the Clark Visitor’s Center.
Under the MOU, CDC and LH will work together to “facilitate and attract potential investments, including but not limited to small and medium-sized firms that will contribute to the smart city project’s implementation.”
Both parties also agreed to collaborate on enhancing trade, investment, and tourism activities in this Freeport for the efficient and successful fulfillment of the project.
The smart city will be built on prime property within the Clark freeport.
Gaerlan thanked LH for the support extended to CDC.
“Clark Development Corporation values the support of the Korean Government, LH, Korea Overseas Infrastructure & Urban Development Corporation (KIND), and other counterparts since this (project) started a few months ago,” he said.
“We are very happy that we are now seeing the completion of the feasibility study for the project. I hope that this will be the start of a lasting partnership between CDC and LH, Korea and the Philippine government,” Gaerlan said.
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