PAMPANGA — Clark Development Corporation (CDC) President and CEO Atty. Agnes VST Devanadera declared that governance, regulatory predictability, infrastructure, and service excellence now determine investment competitiveness. Speaking at the Tax Management Association of the Philippines 2026 Tax Forum, she said the Philippines must balance fiscal sustainability with a globally competitive investment environment.
A Shift in Competitive Strategy
Devanadera emphasized that investors today look beyond tax incentives. They assess policy stability, ease of doing business, infrastructure quality, digital readiness, skilled talent, sustainability, and governance standards. Clark's recorded ₱14.4 billion in committed investments during the first half of 2026 underscores the importance of maintaining investor confidence.
“It’s not a matter of choosing one. It is attaining both,” she said, referring to the need to promote investments while safeguarding government revenues. The CREATE MORE Act (Republic Act No. 12066) has shifted the focus of economic zones toward operational competitiveness, as incentives are now harmonized nationally.
Clark’s Impressive Numbers
The freeport currently hosts 1,295 locators and investors, employing more than 151,000 workers. Exports reached US$3.81 billion, demonstrating the zone's significant contribution to the national economy. These figures position Clark as a strategic development platform generating jobs, investments, and long-term economic opportunities.
Devanadera described economic zones as essential engines of growth. The real competition, she stressed, is no longer about tax perks but about service quality. Every ecozone offers the same incentives, making operational excellence the true differentiator.
The New Investment Landscape
The CDC chief called for benchmarking against leading global investment destinations. She urged adaptation to emerging trends such as the OECD Global Minimum Tax Framework, digital taxation, AI-driven tax administration, and sustainability requirements. Supply-chain reconfiguration also presents both challenges and opportunities.
“Strong local foundations and global alignment will give us sustainable competitiveness,” she said. This approach ensures that Clark and surrounding areas remain resilient amid global tax reforms and shifting business requirements.
Building a Skilled and Ready Workforce
The pivot toward service-driven competitiveness directly benefits Pampanga's labor market. Sustained investor confidence expands employment beyond the current workforce, creating roles in high-value manufacturing, logistics, technology, and hospitality. The focus on digital readiness will push educational institutions to align curricula with technical skills demanded by global corporations.
Infrastructure upgrades across Angeles City, Mabalacat, Porac, and nearby towns will accelerate. Stable locator commitments drive indirect growth in real estate, housing, retail, and logistics supply chains. The entire region stands to benefit from Clark's evolving strategy.
A Blueprint for Sustainable Growth
Devanadera concluded by calling on government, industry, tax professionals, and economic zones to work together. Reforms must strengthen both the country's fiscal position and its attractiveness to investors. The future belongs to jurisdictions that combine fiscal competitiveness with operational excellence.
Clark's performance and strategic direction serve as a blueprint for other economic zones. The message is clear: in a rapidly evolving global economy, governance and service will define success.
