Monday, November 29, 2021

P16B in investment proposals by 40 firms get SBMA nod in 3Q

Nov 23, 2021 @ 10:49
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The Subic Bay Metropolitan Authority (SBMA) has given the green light for new investment proposals amounting to P16.2 billion in the third quarter of 2021.

SBMA chair and administrator Wilma Eisma said the new investment commitments were made by 40 companies that sought registration as Subic business locators from July to September, as well as by three existing locators that pledged additional investments for expansion projects totaling P49.44 million.

According to a Punto Central Luzon report, the new investments consist of 15 projects under the leisure industry, 13 in general business, 11 in logistics and one in information and communications technology, while the expansions were all under the manufacturing sector.

The new investments will bring in a total of 71,522 new jobs, while the expansion projects will generate additional employment of 1,200 in the freeport zone.

The SBMA Business and Investment Group said the new projects approved in the third quarter represented a 233-percent increase over the 12 new proposals in the same period last year.

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