Subic Freeport gets $ 27.6 million new investments
Business here continued to be upbeat with fresh investments totalling US $ 27.6 million.
The Subic Bay Metropolitan Authority (SBMA) and 13 new locators have signed the lease contracts.
“The number 13 is not really unlucky after all. Today, we have just signed 13 lease contracts with the new locators who are committing investments worth US $ 27.6 million and will be generating 1,700 job opportunities. I hope that all of you will make it big for as long as you are here in the Subic Freeport,” SBMA Chairman Feliciano G. Salonga said.
SBMA Administrator Armand C. Arreza disclosed that the SBMA is expecting more foreign investiments to pour in the coming months.
“We have some companies engaged in warehousing and distribution. We have companies engaged in tourism, services. We have companies engaged in manufacturing industries which represent the broad spectrum of opportunities here in Subic,” he said.
The new batch of investors was topped by Yienson which will infuse US $ 12 million, which is committing the biggest investment of US $ 12 million for the manufacture of garments for exports. The company will also engage in import.
Other firms that will establish manufacturing plants here are Inyoung-Philippines Inc. with US $ 10 million to manufacture and trade steel structures for the Hanjin shipbuilding facility construction in the Redondo Peninsula; Gigatek Subic Bay Inc. is committing an investment of US $ 1.7 million to engage in the manufacturing of electronics, communication and computer-related products or devices.
Coin Chemical Subic Inc., which will manufacture and trade paints, lithium-ion batteries, bio-cosmetics and other related products, is committing US $ 870,000; and Subic Amino Hightech Corp., the 26th Japanese investor in the Freeport, with US $ 625,000 will manufacture and trade polypropylene pellets and other plastic products.
Aside from the manufacturing firms welcomed during the contract signing ceremony, three firms engaged in tourism-related activities also signed such as Subic Executive Lofts Condominium Corporation with US $ 1.5 million and will establish, operate, manage and develop condominium hotel amenities; Interisland Resorts and Services, Inc., investing US $ 210,000, will be operating the former SBMA Hotel Buildings 281 and 282 and a restaurant, and eventually establish Subic-Manila flights and even Subic-Kaohsiung flights as well; and Subic Hwa Dong, Inc. with US $ 60,000 will operate a restaurant, café and KTV.
Three firms engaged in warehousing and transshipment also signed. They are Shengkai Corporation with US $ 430,000 will provide warehousing services of construction equipment, and engineering/construction management and operation; Amti Computers Subic Inc. with US $ 65,000 to provide warehousing and transshipment services of computer hardware, parts, accessories and peripherals, and computer software products; and Sahar Int’l Trading Subic, Inc. with US $ 45,000 to provide same services for house decors, carpets and rugs.
Two first-of-its-kind businesses also signedWinstar Subic Display Corporation with US $ 50,000 will establish the first research and development center in the Freeport for small and medium size display LCD, and Asiapro Cooperative with US $ 6,000, to provide manpower service in the Freeport.
Both Salonga and Arreza expressed elation over the upbeat trend in business activities going on in the Freeport.
“We started off with a very good start for the year, and at the rate we’re going, we will have a banner year this yea . In fact, the first quarter this year alone, we have been able to sign investments totaling over US $ 1.05 billion in committed investments,” Arreza announced.
He added that the SBMA gears up to become one of the logistics hubs envisioned in the government’s 10-point legacy agenda of the President Gloria Macapagal-Arroyo.
“With the new logistics center, and the new container terminal completed by next year, I think you could really see that were really working very hard to enhance competitiveness of Subic Bay,” Arreza said.
The Subic Bay Metropolitan Authority (SBMA) and 13 new locators have signed the lease contracts.
“The number 13 is not really unlucky after all. Today, we have just signed 13 lease contracts with the new locators who are committing investments worth US $ 27.6 million and will be generating 1,700 job opportunities. I hope that all of you will make it big for as long as you are here in the Subic Freeport,” SBMA Chairman Feliciano G. Salonga said.
SBMA Administrator Armand C. Arreza disclosed that the SBMA is expecting more foreign investiments to pour in the coming months.
“We have some companies engaged in warehousing and distribution. We have companies engaged in tourism, services. We have companies engaged in manufacturing industries which represent the broad spectrum of opportunities here in Subic,” he said.
The new batch of investors was topped by Yienson which will infuse US $ 12 million, which is committing the biggest investment of US $ 12 million for the manufacture of garments for exports. The company will also engage in import.
Other firms that will establish manufacturing plants here are Inyoung-Philippines Inc. with US $ 10 million to manufacture and trade steel structures for the Hanjin shipbuilding facility construction in the Redondo Peninsula; Gigatek Subic Bay Inc. is committing an investment of US $ 1.7 million to engage in the manufacturing of electronics, communication and computer-related products or devices.
Coin Chemical Subic Inc., which will manufacture and trade paints, lithium-ion batteries, bio-cosmetics and other related products, is committing US $ 870,000; and Subic Amino Hightech Corp., the 26th Japanese investor in the Freeport, with US $ 625,000 will manufacture and trade polypropylene pellets and other plastic products.
Aside from the manufacturing firms welcomed during the contract signing ceremony, three firms engaged in tourism-related activities also signed such as Subic Executive Lofts Condominium Corporation with US $ 1.5 million and will establish, operate, manage and develop condominium hotel amenities; Interisland Resorts and Services, Inc., investing US $ 210,000, will be operating the former SBMA Hotel Buildings 281 and 282 and a restaurant, and eventually establish Subic-Manila flights and even Subic-Kaohsiung flights as well; and Subic Hwa Dong, Inc. with US $ 60,000 will operate a restaurant, café and KTV.
Three firms engaged in warehousing and transshipment also signed. They are Shengkai Corporation with US $ 430,000 will provide warehousing services of construction equipment, and engineering/construction management and operation; Amti Computers Subic Inc. with US $ 65,000 to provide warehousing and transshipment services of computer hardware, parts, accessories and peripherals, and computer software products; and Sahar Int’l Trading Subic, Inc. with US $ 45,000 to provide same services for house decors, carpets and rugs.
Two first-of-its-kind businesses also signedWinstar Subic Display Corporation with US $ 50,000 will establish the first research and development center in the Freeport for small and medium size display LCD, and Asiapro Cooperative with US $ 6,000, to provide manpower service in the Freeport.
Both Salonga and Arreza expressed elation over the upbeat trend in business activities going on in the Freeport.
“We started off with a very good start for the year, and at the rate we’re going, we will have a banner year this yea . In fact, the first quarter this year alone, we have been able to sign investments totaling over US $ 1.05 billion in committed investments,” Arreza announced.
He added that the SBMA gears up to become one of the logistics hubs envisioned in the government’s 10-point legacy agenda of the President Gloria Macapagal-Arroyo.
“With the new logistics center, and the new container terminal completed by next year, I think you could really see that were really working very hard to enhance competitiveness of Subic Bay,” Arreza said.
Balita.Ph
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