The government is earmarking an initial 285 million pesos for the country’s first agri-industrial business corridor at New Clark City to boost economic growth in the new normal.
The Bases Conversion and Development Authority and Department of Agriculture inked a memorandum of agreement for the development of the Agro-Industrial Business Corridor and National Seed Technology Park.
New Clark City has the potential to jumpstart and sustain economic growth in the “new normal” because of its vast agricultural resources and strategic location granting access to markets in both northern and southern Luzon, including Metro Manila.
BCDA president and CEO Vince Dizon said, “[It] is critical not just for Clark, but also for the entire country for agricultural sustainability and resiliency.”
The project aims to integrate smallholder farmers by providing them access to resources, state-of-the-art production technology, capital, and value-adding facilities.