March 12, 2024
Description:
Poro Point Management Corporation (PPMC), led by its President and CEO, Atty. Felix S. Racadio, joined the Philippine Business Delegation during the Presidential Visit of His Excellency, President Ferdinand R. Marcos Jr., to Melbourne, Australia, on March 3, 2024 to March 5, 2024.
On the sidelines of the ASEAN-Australia Special Business Summit, Philippine Business Forum and Presentation of Business Agreements were organized by the Department of Trade and Industry (DTI) attended by President Ferdinand R. Marcos Jr. and the Philippines’ top economic and business leaders.
During the forum, presentations of Memoranda of Understanding (MOUs) and Letters of Intent (LOIs) were made, resulting in the securing of a total of PhP86 billion in investments from 12 business deals to the Philippines.
Among the deals signed were for the development, design, construction, commissioning, and funding of a Tier-3 Data Center in Poro Point Freeport Zone (PPFZ).
The Poro Point Freeport Zone used to house the former Wallace Air Station. The enactment of Republic Act 7227 (Bases Conversion and Development Act) on March 19, 1992 and Proclamation No. 216 on July 27, 1993 effectively transferred the stewardship of the Freeport to the Bases Conversion and Development Authority (BCDA) to facilitate its conversion into a productive economic growth center.
Gov. Joaquin L. Ortega Ave. (Formerly Pennsylvania Ave.) San Fernando City 2500, La Union Philippines
