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The Subic Bay Metropolitan Authority registered a total of P16.67 billion in investments from January to December 2021
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The amount is a 1,099% increase over the P1.39-billion investment turnout in 2020
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It is also almost four times the P4.38 billion forecast for 2021
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SBMA chairman and administrator Wilma Eisma said the Freeport zone is on its “way to pre-pandemic investment levels”
The Subic Bay Metropolitan Authority (SBMA) registered a total of P16.67 billion in investments from January to December 2021, a 1,099% increase over the P1.39-billion investment turnout in 2020.
The amount is also almost four times the P4.38 billion investment forecast for 2021, SBMA chairman and administrator Wilma Eisma said in a statement.
The new investment projects are projected to generate close to 72,000 new jobs in Subic, Eisma said.
“We’re not yet there even with this P16.67-billion figure this year, but we are definitely on our way to pre-pandemic investment levels,” Eisma pointed out.
Eisma attributed the positive performance to “keeping Subic a safe haven for both business and leisure.”
“The people here—and that includes the workers and residents—have gotten used to the strict implementation of safety protocols by the SBMA, and this is apparently paying off. People are asking where does Subic’s economic vibrancy come from, and the simple answer is that it comes from keeping Subic safe for everybody,” Eisma said.
Figures from the SBMA Business and Investment Group showed that more than 100 new business locators registered in the Subic Freeport this year.
These included 82 companies wholly owned by Filipinos; five Sri Lankan and Filipino partnerships; three Filipino-Chinese companies; two Dutch, American and Filipino joint ventures; two Sri Lankan firms; two Taiwanese-Filipino companies; an American enterprise; and 14 other projects between a Filipino and a foreign partner.
The biggest investment project in 2021 was the P201.2 million watercraft operation business proposed by Empress Maritime Subic, Inc., a British-Filipino venture.
This was followed by a petroleum trading venture by Bicol Oil (International) & Shipping Corp., a Filipino firm that pledged P179.3 million; Subic Spectron Energy Trading Corp., another Filipino petroleum trading firm with P101.39 million; MN3A Subic Trading Corp., a Filipino general trading firm with P80 million; and SBGP Food Services, Inc., a Taiwanese-Filipino trading and retailing business with P74.6 million.
Completing the top 10 new investors were Da Fu Yuan Corp., a Filipino-Taiwanese-Chinese venture for real estate development with P57.28 million; Jung Fang Corp., a Taiwanese real estate firm with P38.44 million; Alquenes Petroleum Inc., Filipino, with P28.5 million; Vexio Corp., another Filipino petroleum trader, with P25.97 million; and CGD Medical Depot Inc., a Filipino trader of medical supplies and foodproducts, with P19.7 million.
The biggest investment project in terms of employment is that of Subic Supreme Industries, Inc., with projected 71,250 jobs. This Filipino venture with committed investments of P15.5 million will develop and operate the marshalling yard at the gateway area for mixed-use development and services.
SBMA is a government-owned and controlled corporation tasked to manage and administer the Subic Bay Freeport Zone in Zambales.
