The Subic Bay Metropolitan Authority (SBMA) revealed increase in investments created more job opportunities as the workforce in the freeport rose to 112,653.
SBMA Administrator Atty. Wilma Amy T. Eisma said the 112,653 total active workers inside the freeport show a significant increase of 11 percent from 2015 due to a 12.76 percent increase in the number of locators.
Currently, the Subic Bay Freeport has 1,536 companies compared to 1,340 companies that were recorded in 2015. Eisma said there are 1,093 new accounts that are now being processed by the SBMA.
Eisma commended the top five employers of the SBMA, namely: Hanjin Heavy Industries and Construction-Philippines with 33,296 employees; Nidec Subic Phils Corp. with 5,240 employees; Sanyo Denki Phils. Inc. with 4,011; Tong Lung Phils Metal Industry Co. Inc. with 2,900; and Nicera Phils Inc. with 2,294.
The administrator said one of the main reasons why companies had chosen to invest in Subic Bay Freeport Zone is the area is accessible by land, air and sea, pointing out that it is conducive to both tourists and the movement of goods. Eisma added 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 with the safety and security provided by our law enforcers here. The Freeport has gated entry and exit points,” she said, adding there are zoning guidelines and restrictions that are strictly enforced.
The freeport is also an area with tax incentives and duty-free importation of raw materials and capital equipment. Along with these is the “unrestricted entry of foreign investments,” Eisma said.
But aside from being chosen as an area to invest, Eisma also pointed out the freeport is profitable for business. Among others, share values were increased, capital expenditure is in place, the quality of life inside the freeport is high and there is ease of doing business in Subic.
“These factors are what we should maintain to provide investors the much needed help they deserve while providing employment to our fellow countrymen,” Eisma said. – Dante Salvana