BCDA inks MOU with Korean Economic Zone Authority

The state-owned Bases Conversion and Development Authority (BCDA) said it recently signed a Memorandum of Understanding (MOU) with a South Korean  Economic Zone Authority that will pave the way for the BCDA  to gain new insights in building the Philippines’ first smart and green city in Central Luzon and position the new city as the international business district in the Southeast Asian region.  

BCDA President and CEO Arnel Paciano D. Casanova said he recently signed a MOU with Incheon Free Economic Zone Authority (IFEZA)  Commissioner Jong-Cheol Lee to explore potential collaborative opportunities in relation to sustainable urbanization with  IFEZA’s experience with the Songdo International Business District and BCDA’s planned Clark Green City (CGC).

The signing ceremony was done via videoteleconferencing with IFEZA Commissioner Jong-Cheol Lee  in Korea and Mr. Casanova in Makati.

According to Casanova, IFEZA has successfully launched the Songdo International Business District within the Incheon Free Economic Zone in  2009 as an international city that integrates the best practices of urban planning and sustainable design principles with a synergistic mix of residential, commercial, retail land civic uses in a master-planned environment.

Casanova said with  the Songdo International Business District  as the international hub in Northeast Asia, the Clark Green City is envisioned to complement and create synergy with  Songdo by being the international business hub of the Southeast Asian Region.

“The  MOU is a first step,  and with further discussion,  it can lead to a possible strategic relationship between BCDA and IFEZA to foster technical cooperation that encompasses the whole range of assistance activities designed to develop human resources,” Casanova said.

He added that BCDA and IFEZA also intends to discuss other possible areas of potential collaboration to support the vision and efforts of BCDA for the creation and development of the CGC.

“BCDA’s vision is a community with embedded innovative IP-enabled technology in a green and sustainable city that will serve as the backbone to facilitate solutions to promote new economic opportunities,” Casanova said.

Also under the MOU, the BCDA and IFEZA agree to pursue cooperation and develop synergies towards common goals through  building on each others respective comparative strengths and advantages  by providing assistance aimed at strengthening individual and organizational capacity by providing technical training and expertise; technical assistance to personnel involved in the implementation and the management of the CGC; assistance for the implementation of joint studies on cooperative matters in the areas of mutual interest; and sharing of implementation policy and regulatory know-how regarding Free Economic Zones/ Special Economic Zones.