28/08/2026
PRESS RELEASE | Clark chief: Governance, service excellence now drive investment competitiveness
CLARK FREEPORT – Clark Development Corporation (CDC) President and CEO Atty. Agnes VST Devanadera emphasized that in an evolving global investment environment, competitiveness is increasingly determined by governance, regulatory predictability, infrastructure, and service excellence, rather than incentives alone.
Speaking at the Tax Management Association of the Philippines (TMAP) 2026 Tax Forum at Hilton Clark Sun Valley Resort, Devanadera said the Philippines must balance fiscal sustainability with an investment environment that is globally competitive, efficient, and responsive to emerging international standards.
“The future belongs to jurisdictions that combine fiscal competitiveness with operational excellence. We can never divorce those two,” she said.
Her remarks come as Clark recorded ₱14.4 billion in committed investments in the first half of 2026, highlighting the importance of maintaining investor confidence amid global tax reforms, supply-chain shifts, and changing business requirements.
Atty. Devanadera said investors today look beyond tax incentives and increasingly assess factors such as policy stability, ease of doing business, infrastructure quality, digital readiness, skilled talent, sustainability, and governance standards.
“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.
Citing Clark's 1,295 locators and investors, more than 151,000 workers, and US$3.81 billion in exports, Devanadera described economic zones as strategic development platforms that generate jobs, investments, and long-term economic opportunities.
She noted that the CREATE MORE Act (Republic Act No. 12066) has further shifted the focus of economic zones toward operational competitiveness, as investment incentives are now governed under a more harmonized national framework.
“When it comes to incentives, there is no point of competition. Every ecozone offers the same incentives. The real competition is service,” she said.
The CDC chief also underscored the importance of regulatory stability and policy coherence, noting that investors make long-term decisions based on predictable rules and transparent governance.
She urged the country to benchmark its performance against leading global investment destinations and adapt to emerging trends such as the OECD Global Minimum Tax Framework, digital taxation, artificial intelligence-driven tax administration, sustainability requirements, and supply-chain reconfiguration.
“Strong local foundations and global alignment will give us sustainable competitiveness,” Atty. Devanadera said.
She concluded by calling on government, industry, tax professionals, and economic zones to work together in advancing reforms that strengthen both the country's fiscal position and its attractiveness to investors.
(CDC Photos)
