Australian bizmen explore Subic for future investments
CLARK FREEPORT-The Subic Bay Metropolitan Authority (SBMA) led by its Chairman and Administrator Rolen C. Paulino recently hosted delegates from the Pacific Business Mission as they explore Subic Bay Freeport Zone for future investments.
The Philippine Trade and Investment Center (PTIC) of Australia/ New Zealand, in partnership with the Subic-Clark Alliance Development Council (SCADC), and the Board of Investments (BOI) accompanied Australian businesspersons to visit key viable investment sites in the Central Luzon area including Subic Bay Freeport Zone.
Headed by Philippine Ambassador to Australia Ma. Hellen De La Vega, the delegation also visited Clark Freeport Zone, Mt. Samat Flagship Tourism Enterprise Zone, and the Province of Bataan before proceeding to Subic Bay.
The group was said to have expressed interest in possible investment projects related to tourism, automotive and electric vehicle manufacturing, agribusiness, and renewable energy.
Paulino encouraged the business delegates to make it happen in the Philippines, especially in
Subic Bay, that the entire SBF community is looking forward “with much enthusiasm to work in partnership with all of you for the growth and progress of the Philippine economy, in general, and in the Subic Bay Freeport community, in particular.”
SBMA Business and Investment for Manufacturing and Maritime Department Manager Karen Magno gave the group a briefing on the business climate in Subic Bay Freeport on behalf of Senior Deputy Administrator for Business and Investment Renato Lee III.
“We strive very, very hard to keep the confidence of our investors and maintain this site as an ideal site for investment. This is because of our core Filipino value we call ‘malasakit.’ Malasakit is the deepest form of caring. Malasakit to our stakeholders, malasakit to Subic, which we call home,” Magno said.
She added that because of malasakit, the business group, through the SBMA Board of Directors, was able to complete the processing of 63 new investments during the height of the pandemic in order to sustain the economy in Subic Bay Freeport.
The new projects with a committed investment worth US$24 billion required additional 682 employment opportunities for the residents of Olongapo, Bataan, and Zambales areas.
Currently, the SBF houses 28 Australian locators with a committed investment totaling to US$11 million and employment of 577 workers.
Hugh McDougall, President and Chief Executive Officer of Australia Farm Innovation, and Nick Fenwick, President and Chief Operating Officer of Fabric8 Membrane Services, and both Australian locators in Subic Bay Freeport attested to the warm and professional reception of SBMA personnel, skilled and English-speaking workers, and the flexible services that the SBMA has been extending them.
Australia Farm Innovation is the leading Philippines Supplier of Innovative and High-Quality Prefabricated Agricultural Buildings and Equipment, while Fabric8 Membrane Services is a company that specializes in contract fabrication of textile materials used in major projects globally.
Meanwhile, SBMA Deputy Administrator for Business Group Atty. John Aquino acknowledged the effort of the PTIC, SCADC, BOI and all the Investment Promotion Agencies as the Philippine Statistics Office recently announced that the Foreign Direct Investments (FDIs) reached ?46 billion for the second quarter of this year alone.
Aquino proudly said that 71.34 percent of the said FDIs or ?32.98 billion were approved by the SBMA.