Sunday, January 20, 2019

Eisma optimistic Subic Freeport can attract more investments in 2018

Jan 31, 2018 @ 11:54

Subic Bay Metropolitan Authority (SBMA) Chair and Administrator Wilma T. Eisma said they are expecting more investment projects in 2018 to top the P2.54 billion total committed investments generated by the agency last year.

Eisma expressed in a news statement that the agency is confident it could improve investor rating in the Subic Bay Freeport.

“We recorded a total of 176 new investment proposals and 63 expansion projects proposed by existing investor-companies last year, but we anticipate more investments this year because we’re opening new areas for development and, at the same time, putting more value into existing facilities so that we could attract more takers,”said Eisma.

The SBMA Business and Investment Group (SBMA-BIG) recorded 56 new investment projects processed in the last quarter of 2017, 27 in the second quarter, 49 in the third, and 44 in the last quarter. The agency generated a total of P1,448,358,341 in committed investments last year.

New investments from existing firms’ expansion projects, meanwhile, amounted to P1,088,313,616.

The 2017 investment projects also yielded a projected employment total of 2,667.

“We’re also seeking to invest in new road networks to increase the value of idle land and facilities within the Freeport and to move away from the ‘as-is-where-is’ policy that leaves investors to develop the area they were leasing,”said Eisma.

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