BCDA bags P86-B deal from biz mission in Australia

By Kris Crismundo

March 11, 2024, 3:03 pm

MANILA – The Bases Conversion and Development Authority (BCDA) on Monday announced that it sealed a PHP86 billion (USD1.53 billion) worth of investments from its recent business mission in Australia.

The business mission coincided with the official visit of President Ferdinand R. Marcos Jr. to Melbourne last week for the ASEAN-Australia Special Summit.

Among the deals that BCDA signed included the memorandum of understanding (MOU) with Kaizen ANZ Pty. Ltd. for a data center in Port Point Freeport Zone in La Union; the decarbonization solutions in New Clark City with Energy Decarb Pty. Ltd.; and the study of electric vehicle opportunities in the country with the help of Passenger Urban and Rapid Vehicles Solutions Inc.. 

BCDA also forged another deal with St. Battalion Giga Factory Inc. for the expansion of the next-generation battery manufacturing in New Clark City.

“These agreements will help not just the BCDA but the whole country to navigate toward a safe and sustainable future in terms of digital transformation and renewable energy transition,” BCDA president and chief executive officer Joshua Bingcang said.

Bingcang said the agreements signed by BCDA with Australian partners are in line with the efforts of Special Assistant to the President for Investment and Economic Affairs Frederick Go in bringing in more foreign capital and expertise to the Philippines, particularly in sectors of information and communications technology (ICT), energy, and infrastructure.

“Through these deals, we will also be able to drive inclusive economic growth and create more high-quality employment opportunities for those living within the economic zones we operate,” he noted. (PNA)