Despite the pandemic, Subic Bay freeport has attracted two investors for the development of industrial estates to accommodate more locators
This after the zone generated almost P1.4 billion investments in 2020, some in much-needed personal protective equipment (PPEs) used in combatting the new coronavirus disease 2019.
Karen Magno, manager at the Subic Bay Metropolitan Authority (SBMA), said Taiwanese-owned TIPO Hightech Eco Park is a 200-hectare mixed use industrial center which will accommodate light industrial industries. commercial activities and high-end condominium units.
Magno said Sinoinvest Resources Inc. is also developing a 67-hectare for industrial facilities, commercial establishment/ and residential areas.
According to Magno, SBMA in 2020 registered 69 new accounts in manufacturing, construction, health and safety, logistics and information and communication technology.
These will generate P1.22 billion investments and 682 jobs.
Sixteen existing locators expanded their businesses last year, adding 264 workers and investments of P163 million.
Magno said among the new investments are the P24-million project of Mask Secure King Inc. and the P10-million investment of Robotic-designed Technology Inc., both engaged in the manufacturer of face masks, and other PPEs.
SBMA is also looking for partners and investors to develop Redondo Peninsula, for renewable energy, industrial park operations and other related activities in this area.
SBMA is seeking for partners to put up a bridge in Redondo to unlock the potential of the area. – Irma Isip
