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EBITDA, an 18.98% growth over the P1.55 bil­lion in 2017.

Eisma also pointed out that the growth in ex­pan­sion projects in Su­bic, which ex­po­nen­tially jumped from P926.6 mil­lion in 2017 to P25.05 bil­lion in 2018 for an over­whelm­ing year-on-year in­crease of 2,603 per­cent, was the more telling sign of in­vestor con­fi­dence on Su­bic.

“This means that in­vestors who are al­ready here in Su­bic re­main to be com­mit­ted, and trust that good things will hap­pen again this year,” she told mem­bers of the Su­bic Bay Freeport Cham­ber of Com­merce, which is host­ing the an­nual SOFA pre­sen­ta­tion.

The big­gest fresh in­fu­sions last year were for a fives­tar ho­tel, in­dus­trial parks, ware­houses, and a golf course and re­tire­ment com­mu­nity, she said.

As a por­tent of con­tin­u­ing fa­vor­able busi­ness cli­mate in the Su­bic Bay Freeport, the SBMA also drew a strong im­port and ex­port per­for­mance in 2018, sig­ni­fy­ing Su­bic’s pro­gres­sive role as an en­gine of growth.

Eisma said that Su­bic’s im­port value in­creased by 3.6 per­cent from P1.77 bil­lion in 2017 to P1.84 bil­lion in 2018, while ex­port value rose by 8.2 per­cent from P2.3 bil­lion to P2.5 bil­lion.

Mean­while, to­tal debt de­creased by 1.7 per­cent from P6.2 bil­lion to P6.1 bil­lion due to the volatile ex­change rate in 2018.

Su­bic made an­other record-break­ing per­for­mance in port op­er­a­tions when it han­dled 212,103 TEUs in con­tainer­ized cargo vol­ume and 7,052 met­ric tons of bulk and non-con­tainer­ized cargo in 2018. Su­bic sea­port’s ro­bust growth last year, which was up 50 per­cent from the 2017 level, brought in to­tal rev­enue of P1.23 bil­lion.

The lo­cal tourism in­dus­try, on the other hand, con­tin­ued with its im­pres­sive per­for­mance with an 8.2 per­cent in­crease in walk-in visi­tor ar­rivals from 8.5 mil­lion to 9.2 mil­lion, and a 2.2 per­cent rise in overnight tourist ar­rivals from 1.68 mil­lion to P1.72 mil­lion. The tourist ar­rivals also in­creased ho­tel oc­cu­pancy to 68.46 per­cent.

Eisma added that the 19 cruise ship ar­rivals in 2018— com­pared to a sin­gle ar­rival in 2017—ig­nited a whole new tourism niche for Su­bic, which also made a huge P129-mil­lion eco­nomic im­pact in the Cen­tral Lu­zon re­gion.

With the con­tin­u­ous growth in Su­bic, SBMA’s con­tri­bu­tions to the na­tional trea­sury in the form of tax col­lec­tions, cus­toms du­ties, and gov­ern­ment div­i­dends also went up by 27 per­cent from P19.9 bil­lion in 2017 to P25.3 bil­lion in 2018, Eisma also said dur­ing the SOFA.

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