18 new locators to start Subic Bay Metropolitan Authority’s 2007 year

SUBIC BAY FREEPORT: The Subic Bay Metropolitan Authority on Tuesday reported that 18 new investors with an estimated investment of $13 million have signed their intention to invest in Subic Bay Freeport.

The investments are also expected to generate some 700-employment opportunities, said SBMA administrator Armand Arreza.

Arreza said that the new locators include estate development, advertising, manufacturing, trading, manpower service, Voice-over Internet Provider, entertainment and amusement parks, restaurant and an aviation school.

Toping the locators list is the Korean builder MGfnd (Subic) Inc., which is committing $9.9 million to build a one-stop shop entertainment and leisure facility, coming in second is the Subic Family Land Inc. that will invest some $200,000 for an amusement park and will hire around 203 workers when it starts full operations.

SBMA chairman Feliciano Salonga said that having a wide range of industries in Subic Freeport will help SBMA hire a wide range of skilled workers from surrounding communities, thereby realizing its intention to help the national government lower the unemployment rate in the country.
--Anthony Bayarong - Manila Times