The Subic Bay Freeport Zone is now primed as the next logistics hub for businesses and industries in Northern and Central Luzon, the Subic Bay Metropolitan Authority (SBMA) said.
The freeport zone has now evolved into one of the country’s gateways for international and local cargo shipping and handling, which can boost business efficiencies, according to SBMA.
The freeport zone in Olongapo, Zambales is the largest in the Philippines, and is supported by the Subic Bay International Terminal Corp. (SBITC), a subsidiary of the Razon-led International Container Terminal Services Inc. (ICTSI).
“A lot of developments are happening now in Subic that provides immense business opportunities for SMEs [small and medium enterprises], especially in the Northern and Central Luzon… Companies looking to broaden their networks can connect with markets and suppliers anywhere in the country, or the world for that matter,” SBITC President Roberto Locsin said.
Port operator SBITC has 28 hectares of terminals with a capacity of 600,000 container van ships. The New Container Terminals 1 and 2 have a combined 11.14-hectare container yard.
SBMA Chairman Roberto Garcia said the freeport is catered to local and international locators, and is seen as the next storage, trade, and logistics hub for Asia.
“Some of the best-known and biggest freeports like those located in Geneva, Singapore, and Luxembourg have effectively attracted investments from small, medium, and large industries through seamless logistics solutions.