BUSINESS activity at the Subic Bay Freeport Zone is expected to be “more robust” this 2018 due to increasing investments and activities in the Freeport area, a top official of Subic Bay International Terminal Corp. (SBITC) said on Friday.
“The Subic Freeport Zone is bustling with activity from various logistics and trading firms and we project growth will continue due to the infrastructure program of the administration,” SBITC President Roberto Locsin said in a statement.
SBITC is a subsidiary of Enrique Razon Jr.-led port operator International Container Terminal Services Inc. (ICTSI).
“2018 will be an exciting year for the Subic Bay Freeport Zone as various international firms have recognized the potential of Subic Bay as a strategic gateway in the Asian market,” Locsin added.
Earlier, the Subic Bay Metropolitan Authority (SBMA) said it aims to make the Freeport more competitive in international trade and will push for its full development by 2022.
“Our priority is to make Subic a more open and competitive Freeport in international trade. With additional investment prospects in the works, Subic Bay is moving forward with positive momentum,” SBMA Administrator Wilma Eisma said.
SBITC has opened a container barge service for inter-island trade with Cebu and Cagayan de Oro. The service connects Subic to Bacolod, Iloilo, Samar, and Leyte through the Cebu port, while the Cagayan de Oro port connects Subic to the island of Mindanao.