SBMA board okays US$ 3.8M projects
SUBIC BAY FREE-PORT (PNA) - A total of US$ 3.8 million worth of investments will be infused in the country's premier Free-port after the Subic Bay Metropolitan Authority (SBMA) Board of Directors approved 14 business projects from January to the first week of March.
SBMA Chairman Feli-ciano G. Salonga disclosed that the new projects range from tourism facilities to shipping services, manufacturing, information technology (IT) and other services.
"I would say that Subic Freeport is already in the momentum in terms of business activities. With the construction of the port modernization project here and Subic-Clark-Tarlac Expressway Project (SCTEP) at hand as a catalyst, more business proposals poured in to complement the projects," Salonga said.
Most of the 14 newly approved projects, Salonga added, complement the main thrust of the SBMA -- shipping and tourism. Three projects are engaged in shipping and four are into tourism facilities.
HL Speedy Trans Inc. will render trucking and hauling services of goods and merchandise in the Freeport, and infuse US$ 134,400 while Mutual Fortune Express Inc., which will invest US$ 9,482, will offer freight and cargo forwarding services.
Wan Hai Lines (Phils.) Inc., one of the biggest shipping lines in Taiwan, on the other hand, will invest US$ 8,525 to provide and hasten shipping processes that locators here go through in importing goods, and will provide a weekly service every Wednesday.
"We have foreseen Subic as a fast-developing area and we saw a lot of business chances in this flourishing Freeport that should be capitalized on," Wan Hai Executive Vice President Alex Lin said.
Meanwhile, SBMA Administrator Armand C. Arreza said that four out of the 14 approved projects will be putting up restaurants to complement the imminent influx of tourists in the Subic Bay Freeport as it aims to be the premier domestic and Asian destination.
Two of the four restaurants will also operate with hotels, namely International Family Food Services Inc., with an investment of US$ 115,318. It would also operate a franchise of Shakey's and Phil Green Field International Inc., with US$ 47,411.
The other two that will operate restaurants are Subic Hwa Dong Inc., with US$ 60,000 and Gangmac Seafood Restaurant with US$ 6,636.
Also among the new projects is Gigatek Subic Bay Inc., which is engaged in the manufacturing and trading of electronics communication and computer-related products or devices. It will infuse the biggest among investments approved with US$ 1.7 million.
Another IT-related project, KWT Computer Systems Inc., will invest some US$ 115,318 to provide web hosting, web design and computer repair.
Approved manufacturing projects also include investment of US$ 870,000 by Coin Chemical Subic Inc., to manufacture and trade paints, lithium-ion batteries, and bio-cosmetics; polypropylene pellet; plastic products manufacturer Subic Amino Hightech Corporation with US$ 625,000; and waste water treatment equipment manufacturer Vann Tech Subic Bay Corporation with US$ 36,108.
Wartsila Land and Sea Academy, Inc. will infuse US$ 120,507 to establish a center for maritime and power plant trainings in short term courses.
In 2001, Wartsila opened its regional training and research center for the Asia-Pacific rim offering specialized nautical engine courses and product services for international seafarers pursuing technology advancement in maritime industry.
Another investor, the Marquita Nagal Hunt Collection which is investing US$ 4,600 to engage in the study and research of stamps, demonetized bank notes and coins.
Top SBMA executives expect more investment influx as a result of the agency's marketing strategy. It also aims to make the Freeport among the top government entity in terms of revenue and job generation.
SBMA Chairman Feli-ciano G. Salonga disclosed that the new projects range from tourism facilities to shipping services, manufacturing, information technology (IT) and other services.
"I would say that Subic Freeport is already in the momentum in terms of business activities. With the construction of the port modernization project here and Subic-Clark-Tarlac Expressway Project (SCTEP) at hand as a catalyst, more business proposals poured in to complement the projects," Salonga said.
Most of the 14 newly approved projects, Salonga added, complement the main thrust of the SBMA -- shipping and tourism. Three projects are engaged in shipping and four are into tourism facilities.
HL Speedy Trans Inc. will render trucking and hauling services of goods and merchandise in the Freeport, and infuse US$ 134,400 while Mutual Fortune Express Inc., which will invest US$ 9,482, will offer freight and cargo forwarding services.
Wan Hai Lines (Phils.) Inc., one of the biggest shipping lines in Taiwan, on the other hand, will invest US$ 8,525 to provide and hasten shipping processes that locators here go through in importing goods, and will provide a weekly service every Wednesday.
"We have foreseen Subic as a fast-developing area and we saw a lot of business chances in this flourishing Freeport that should be capitalized on," Wan Hai Executive Vice President Alex Lin said.
Meanwhile, SBMA Administrator Armand C. Arreza said that four out of the 14 approved projects will be putting up restaurants to complement the imminent influx of tourists in the Subic Bay Freeport as it aims to be the premier domestic and Asian destination.
Two of the four restaurants will also operate with hotels, namely International Family Food Services Inc., with an investment of US$ 115,318. It would also operate a franchise of Shakey's and Phil Green Field International Inc., with US$ 47,411.
The other two that will operate restaurants are Subic Hwa Dong Inc., with US$ 60,000 and Gangmac Seafood Restaurant with US$ 6,636.
Also among the new projects is Gigatek Subic Bay Inc., which is engaged in the manufacturing and trading of electronics communication and computer-related products or devices. It will infuse the biggest among investments approved with US$ 1.7 million.
Another IT-related project, KWT Computer Systems Inc., will invest some US$ 115,318 to provide web hosting, web design and computer repair.
Approved manufacturing projects also include investment of US$ 870,000 by Coin Chemical Subic Inc., to manufacture and trade paints, lithium-ion batteries, and bio-cosmetics; polypropylene pellet; plastic products manufacturer Subic Amino Hightech Corporation with US$ 625,000; and waste water treatment equipment manufacturer Vann Tech Subic Bay Corporation with US$ 36,108.
Wartsila Land and Sea Academy, Inc. will infuse US$ 120,507 to establish a center for maritime and power plant trainings in short term courses.
In 2001, Wartsila opened its regional training and research center for the Asia-Pacific rim offering specialized nautical engine courses and product services for international seafarers pursuing technology advancement in maritime industry.
Another investor, the Marquita Nagal Hunt Collection which is investing US$ 4,600 to engage in the study and research of stamps, demonetized bank notes and coins.
Top SBMA executives expect more investment influx as a result of the agency's marketing strategy. It also aims to make the Freeport among the top government entity in terms of revenue and job generation.
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