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22 September 2013

Emirates’ maiden flight brings bright prospects for Clark, Subic

CLARK FREEPORT — With the arrival of the inaugural flight of Emirates Airlines from Dubai to Clark on October 1, more investors are mulling over of moving into this vibrant free port which was once a former US military facility located some 80 kilometers north of Manila.

Economic indicators show that this free port and Subic, a former US naval base which lies some 50 kilometers west of this free port, are beginning their transformation into world-class business and travel hubs with the overhaul of the Clark International Airport (CIA) in preparation for Emirates Airlines and as the Philippines’ new international gateway.

“The renewed and increased economic activity and the positive future of tourism up north of Metro Manila make investors bullish about investing,” Gigie Baroa, Emirates Philippines country manager, said. This renewed development has also prompted the First Philippine Industrial Park Inc. (FPIP) of the Lopez group of planning to develop industry parks here and in Subic, complementing the rise in investor confidence.

Business indicators also show that industrial parks, offices and residential developments are on the rise, further fueling the area’s potential for economic and tourism development.

The same is true with the upcoming investments and expansion of manufacturing and business-process outsourcing (BPO) firms, which in turn, drive higher demand in the retail market. (Ashley Manabat, Business Mirror)

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