Top legislator hosts President of Clark Development Corporation

The Vietnamese NA leader expressed his great appreciation for the development of the Clark Special Economic Zone (CSEZ), one of the three effective foreign investment promotion addresses made by the Philippine Government.

The CDC was established in order to operate, administer, manage, and develop the Clark Freeport Zone (CFZ) and the CSEZ.

During the course of the meeting, Devanadera expressed her hope that Vietnam will share its development policies and experience, as well as co-operation orientations for the two sides moving forward.

In response, NA Chairman Hue stressed that the CSEZ is on the right track as it has been able to ensure the harmony of industrial and urban development and environmental protection.

The top legislator therefore noted that many Vietnamese companies and groups are in the process of investing billions of US$ abroad in the fields of IT, energy, agricultural product processing, and real estate.

Furthermore, the nation has so far attracted 35,000 projects with a total registered capital exceeding US$435 billion, he said, adding that the country has been evaluated by the UN as one of the 20 most successful in the world in terms of foreign direct investment attraction.

He, therefore suggested that both Vietnamese and Philippine businesses ramp up investment promotion in the near future in order to match the potential and strength of both sides.

The CSEZ has a total planning area of more than 32,000 hectares and features industries and fields including, information technology, high-tech industry, aviation, logistics, and tourism.

The CDC has attracted 1,100 investors, employed 127,000 staff, and generated an export turnover of US$3.9 billion.

The visit to the corporation therefore marked the successful ending of the official trip to the Philippines by NA Chairman Hue and his delegation.