SBMA needs to expand area as more investors coming in, official says
The Subic Bay Metropolitan Authority (SBMA) is eyeing 21,000 hectares of land in nearby communities for possible location of new investors, an official said.
SBMA Chairman and Administrator Wilma T. Eisma disclosed this in a presentation at the recent Subic Labor Congress.
“We continue to fulfill our mission of attracting investments and generating jobs, even as we are now practically running out of space in the Subic Bay Freeport,” Eisma said.
She said SBMA is now in consultation with officials of local government units nearby in order to develop more areas for trade and business operations.
Eisma noted that foreign direct investments (FDIs) continue to pour into Subic because of the SBMA’s investment promotion program.
She cited at least four FDI projects in the pipeline worth $10 million from Taiwan.
This was on top of the P866-million committed investments approved by the SBMA in the first quarter of this year.
Currently, there are 1,587 business locators with more than 134,000 workers in the Subic Bay Freeport.
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