Investments poured into Subic Bay Freeport Zone has reached $11.54 billion the past 30 years or from 1992 to 2023, according to Eduardo Alino, administrator of the Subic Bay Metropolitan Authority.
Alino said at the Bagong Pilipinas interview yesterday these investments by over 2,000 locators now employ 158,000 workers. Exports of these locators amounted to $1.9 billion.
According to Alino, SBMA has programs that ensure investors and workers are well taken care of.
He said SBMA continues to develop information systems, including digitalization, to ease doing business in the zone.
He said SBMA has partnered with the Securities and Exchange Commission as well as with the Department of Finance in educating investors on the Ease of Doing Business Act and the Corporate Recovery and Tax Incentives for Enterprises Act.
Alino cited the most recent investment of Cerberus and HD Hyundai Heavy Industries in reviving the shipbuilding industry in Subic.
Initially employing 2,000 workers, the project will have a total of 10,000 to 15,000 workers once fully operational.
For workers, SBMA has signed an agreement with the Department of Housing and Urban Development for the construction of homes to 1,800 for SBMA employees and dorms.
