The Subic-Clark growth corridor will pave way for the development of the supply chain in Central Luzon and the rest of the country, said Harbour Centre Port Terminal, Inc. Chairman Reghis Romero.
Romero said “Subic is the most strategic location for port operations” in the country because it can handle the largest vessels in the world noting that it is “the port of choice outside NCR to push immediate and accelerated growth.”
The Harbour Centre Port Terminal, Inc. will start the expansion and modernization of the Subic port on November 26, according to Romero. He said the Clark’s international airport and Subic’s deep-sea port will further push economic development in Central Luzon and in the entire country.
“The Philippines as the most strategic location for supply chain and logistics in Southeast Asia will be given impetus,” said Romero, who keynoted the induction of the new set of officers and members of the Central Luzon Media Association Pampanga Chapter on Monday, November 6, at the Hilltop, Quest Plus Conference Center. The CLMA Pampanga is now the premier press club in Pampanga province and Central Luzon.
“If Clark is the region’s international gateway for airborne commerce, Subic serves the same role for seaborne. This Subic-Clark growth corridor serves as the platform for the region’s supply chain and the rest of the country as well,” said Romero.
UNLOCKING ECONOMIC POTENTIALS
Romero said the development and modernization of the Subic Bay port will unlock the “massive economic potentials and further fuel the faster economic growth of all the Philippine regions north of the National Capital Region.”
Romero cited the regions of Ilocos, Cordillera Administrative Region, Cagayan Valley, and Central Luzon account for 18% of the total Gross Domestic Product of the country, adding 3.9 trillion to the national economy just for 2022.
Romero furthered that in the last two years, all these regions have grown faster than the growth of Metro Manila, and faster than the growth of the entire nation.
“With larger investments in expansion and digitalization, the Subic Port can further ignite domestic and international trade to and from Luzon, that will expand the economy of Northern Luzon regions even faster,” said Romero.
Romero mentioned the great logistics challenges in the country which has one of the highest logistics costs in Southeast Asia with more than 20% of sales, while Thailand only has 11% based on the reports of the Department of Trade and Industry and World Bank.
The development of the deep-sea port will provide seamless flow of goods, according to Romero. “Transport seamlessness and logistics efficiency will be boosted.”
He said “more foreign direct investments (FDI) will come.” ‘With manufacturing and services locators directly adjacent with the ports, the development of the port facilities and the entire economic zone can increase the attractiveness of the Philippines for the FDIs.”
Investors need modern and state-of-the-art port facilities, said Romero noting that Subic is “not just a commercial hub but also a tourist destination.”
Romero was eyeing the entry of more luxury liners, which are expected to bring in more warm bodies for the tourism sector. “Modernizing the ports, the facilities, and the services of the freeport zone can attract cruise ships, luxury liners, and even by-land tourism catering to various tourism activities from leisure, educational, religious, and most especially for local and international meetings and conventions that require large capacities of tourism establishments which can all be provided by Subic and Clark.”
“I hope that you will help us in this new endeavor. This will augur well not only for Subic, not only for Central Luzon but for the Philippines as a whole. Its multiplier effects are limitless as it will pave the way for connectivity that will transcend distance and other deterrents to progress. This is an opportunity for us and all of us here have a stake in it.”