Subic Bay Freeport attracts more locators, expansion projects

SUBIC BAY FREEPORT – A new batch of foreign investors from Taiwan, South Korea and Japan are now closely coordinating and finalizing their documents with the Subic Bay Metropolitan Authority (SBMA) and will shortly begin their operations in the freeport, a ranking SBMA official said.

"The recent investment missions to Taiwan, Japan and Korea have yielded very positive results and a number of these foreign investors have visited the freeport while others are firming up plans to relocate or expand their overseas operations to include Subic," said SBMA senior deputy administrator Jose Calimlim.

He added existing locators likewise remains bullish about the economy and are pushing through with their respective expansion plans.

"There is an ongoing expansion of current investors that needs no lower than 1,600 workers, boosting the program of SBMA much more helping the 10-point agenda of President Gloria Macapagal Arroyo," added Calimlim.

He expressed optimism that the new investments and expansion programs of the present locators will be realized before the end of the year. Most of these investors are engaged in the production and export of microchips, electronics and other information technology parts and accessories.

"SBMA is flying high again, in terms of recent visits made by representatives of different business groups from said countries," he stressed.

To further boost business confidence, SBMA has also stepped up measures to eradicate the organized smuggling syndicate inside and outside the freeport.

Calimlim said since the creation of the Task Force Subic (TFS), almost P1 billion worth of smuggled items that illegally entered the freeport have been intercepted. The TFS was able to recover brand-new sport utility vans, high-end sports cars, luxury vehicles, expensive jewelries misdeclared as car parts and accessories, computer parts, and used appliances.