Subic investment hike boosts jobs

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SUBIC BAY FREEPORT: There are now 112,653 workers in the Subic Bay Metropolitan Authority (SBMA) owing to an increase in investments at the freeport.

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SBMA Administrator and CEO Wilma Amy Eisma on Monday said the new figure represents an 11-percent increase from the 2015 record that is the result of a 12.76- percent increase in the number of locators.

There are 1,536 companies that have invested here compared to 1,340 companies recorded in 2015.

Eisma said the SBMA is processing 1,093 new applications.

The SBMA administrator commended the top five employers – Hanjin Heavy Industries and Construction-Philippines with 33,296 employees; NSidec Subic Phils Corp. – 5,240; Sanyo Denki Phils. Inc. – 4,011; Tong Lung Phils Metal Industry Co. Inc. – 2,900 and Nicera Phils Inc. – 2,294.

She said a major reason why companies choose to invest in the Subic Bay freeport is that it is accessible by land, air and sea, pointing out that it is conducive to visits of tourists and movement of goods.

Eisma added that the freeport has a high quality of air and ambience since it is gifted with natural resources, mountains and water and nature parks.

“We also pride ourselves in the safety and security provided by our law enforcers here. The freeport has gated entry and exit points. There are zoning guidelines and restrictions that are strictly enforced here,” she said.

“The freeport is also an area that has tax incentives and duty-free importation of raw materials and capital equipment. Along with these is the unrestricted entry of foreign investments,” Eisma added.

But aside from being investment-conducive area, Eisma said SBMA is profitable for business, has high share value, carries low business risks, offers high quality of life and is easy to do business with.

“These factors are what we should maintain to provide investors the much needed help they deserve while providing employment to our fellow countrymen,” she added.

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