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Subic Bay Metropolitan Authority recorded 8% higher operating revenues in 2021
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Seaport operations revenues rose 14% while land and building leases grew 2%
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New investments, including expansions, improved 10.11%, topping 2019 pre-pandemic levels
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Imports soared 49.53% while exports jumped 32.42%, both exceeding their 2019 pre-pandemic records
The Subic Bay Metropolitan Authority (SBMA) recorded operating revenues of P3.47 billion in 2021, higher by 8% compared to P270 million in 2020.
The revenues came from leases and port operations, SBMA chairman and administrator Wilma Eisma said in her 2021 annual report. Land and building leases grew by 2% and contributed P1.38 billion, while seaport operations rose by 14% and generated P1.37 billion.
SBMA’s regulatory income likewise increased, expanding by 11% to P408 million, while revenues from airport operations advanced 26% to P79 million.
Aside from growth in revenues, Eisma reported improvements in investment, employment generation, tourism, and imports and exports.
SBMA recorded a total of 142,177 Subic Bay Freeport Zone (SBFZ) workers as of December 31, 2021, showing an increase in employment by 2.31% from 138,966 workers in 2020.
SBFZ business locators numbered 1,737, a slight upward trend since 2019, Eisma said.
New investments, including expansions, totaled P17.29 billion, 10.11% more than the P15.74 billion recorded in 2020.
Eisma noted the 2021 investments even topped pre-pandemic 2019 level by P8.05 billion or 87%, with the bulk comprising a P15-billion commitment from a business locator proposing to develop the SBFZ marshalling yard.
Subic’s tourism industry, hit hard by the pandemic, is in recovery mode, recording a total of 7.3 million same-day visitors in 2021, Eisma said. The figure is higher by 2.18 million or 42% than the 2020 record although still lower than the 2019 record by 2.2 million.
In terms of trade, both import and export values exceeded their 2019 pre-pandemic records by 8.12% and 6.73%, respectively, Eisma said, adding SBFZ has “defied the negative impact of the pandemic”.
Imports reached $1.58 billion, 49.53% higher than the 2020 value of $1.12 billion.
Exports amounted to $1.37 billion, 32.42% more than $1.03 billion in 2020.
Subic Bay International Airport, tapped by the Department of Transportation last year to accommodate “Bayanihan” flights, recorded a total of 53 flights as of December 31, 2021. The flights brought home a total of 14,312 overseas Filipino workers and returning overseas Filipinos, generating P3.17 million in direct revenues for SBMA.
SBMA is a government-owned and controlled corporation tasked to manage and administer the SBFZ in Zambales.
