SBMA board okays new investments worth P175M

SUBIC BAY FREEPORT – A total of P175 million in new investments will be infused in the country’s premier freeport based on project proposals approved by the Subic Bay Metropolitan Authority (SBMA) board of directors from January to the first week of March.

SBMA chairman Feliciano G. Salonga said the new investments range from information technology (IT), manufacturing, tourism facilities to shipping services and other services.

"I would say that Subic is already in the momentum in terms of business activities. With the construction of the world-class port project here and Subic-Clark-Tarlac Expressway Project (SCTEP) at hand as catalyst, more investment proposals poured in to complement the projects," Salonga told The STAR.

Most of the approved investments are engaged in shipping and tourism that complement the main thrust of the SBMA.

Wan Hai Lines (Phils), Inc., one of the biggest shipping lines in Taiwan, to provide and hasten shipping processes that locators here go through in importing goods and will provide a weekly service every Wednesday.

HL Speedy Trans Inc. will render trucking and hauling services of goods and merchandise in the freeport, while Mutual Fortune Express Inc. will offer freight and cargo forwarding services.

"The approved four business projects will be putting up restaurant to complement the imminent influx of local and foreign tourists in the Subic Bay Freeport as it aims to be the premier domestic and Asia destination," SBMA administrator/chief executive officer Armand C. Arreza told The STAR.

Arreza said the SBMA management expects more investments as a result of the agency’s marketing strategy as well as its aim to make the freeport among the top government entities in terms of revenue and job generation.

Two of the four restaurants will operate with hotels, namely, International Family Food Services Inc. to operate a franchise of Shakey’s and Philippine GreenField Int’l Inc. The other two that will operate restaurants are Subic Hwa Dong Inc. and Gangmac Seafood Restaurant.

Another IT-related approved project, KWT Computer Systems Inc., will provide web hosting, web design and computer repair. Also among the new projects is Gigatek Subic Bay Inc., which is engaged in the manufacturing and trading of electronics communication and computer-related products or devices.

Approved manufacturing projects are: Coin Chemical Subic Inc., to manufacture and trade paints, lithium-ion batteries and bio-cosmetics; Subic Amino Hightech Corp. to maufacture polypropylene pellet and other plastic products; and waste water treatment equipment manufacturer Vann Tech Subic Bay Corp.

Wartsila Land and Sea Academy, Inc., is set to establish a center for maritime and power plant training in short term courses. In 2001, Wartsila opened its regional training and research center for the Asia-Pacific rim offering specialized nautical engine courses and product services for international seafarers pursuing technology advancement in maritime industry.