SBMA remains No. 1 with P68.4-B approved FDI pledges
The Subic Bay Metropolitan Authority (SBMA) remains as the top Investment Promotion Agency (IPA) throughout the country generating P68.4 billion worth of foreign direct investments (FDI) pledges from January to September 2006.
Based on the report submitted to President Gloria Macapagal-Arroyo by the National Statistical Coordination Board, the investments posted by the SBMA during the period accounted for 44.9 percent of the total P152-billion FDI pledges.
"The Chairman [Feliciano G. Salonga] and I concluded our first year in the SBMA's top posts with a bountiful year, and we are very elated that we were able to establish a good headstart not only for the Subic Bay Freeport, but for the entire country as well," SBMA Administrator Armand C. Arreza said.
Arreza assured that the SBMA management would carry on with the good start and continue its intensive drive of attracting foreign and local investors to set up shops in the Subic Freeport which would also help the national government reduce unemployment in the country as the SBMA embarks on generating as much as 100,000 job opportunities for the next five or 10 years.
NSCB report also indicated that the Board of Investments (BOI) posted at total of P36.8 billion FDI pledges during the same nine-month period; Philippine Economic Zone Authority (PEZA) with P39 billion; and Clark Development Corporation with P7.8 billion.
Meanwhile, the SBMA landed second from BOI in the cumulative combined pledges from foreign and local investments.
From January to September, the SBMA accumulated a total of P69.9 billion in investment pledges, up by whopping 9,209.58 percent from last year's P1.03 million.
SBMA Chairman Feliciano G. Salonga said the Board of Directors approved 89 projects during the same period, 21 of which were approved during the third quarter alone.
"These new projects will open about 13,334 job opportunities to residents throughout the region," Salonga said.
Both SBMA executives expressed optimism that with the completion of the government's two flagship projects, namely, Subic-Clark-Tarlac Expressway project and Subic Port Modernization project, together with the implementation of the Subic-Clark-Kaohsiung Economic Corridor, more businesses will pour in the Subic Freeport, more employment will be generated for the residents. (PNA)
Based on the report submitted to President Gloria Macapagal-Arroyo by the National Statistical Coordination Board, the investments posted by the SBMA during the period accounted for 44.9 percent of the total P152-billion FDI pledges.
"The Chairman [Feliciano G. Salonga] and I concluded our first year in the SBMA's top posts with a bountiful year, and we are very elated that we were able to establish a good headstart not only for the Subic Bay Freeport, but for the entire country as well," SBMA Administrator Armand C. Arreza said.
Arreza assured that the SBMA management would carry on with the good start and continue its intensive drive of attracting foreign and local investors to set up shops in the Subic Freeport which would also help the national government reduce unemployment in the country as the SBMA embarks on generating as much as 100,000 job opportunities for the next five or 10 years.
NSCB report also indicated that the Board of Investments (BOI) posted at total of P36.8 billion FDI pledges during the same nine-month period; Philippine Economic Zone Authority (PEZA) with P39 billion; and Clark Development Corporation with P7.8 billion.
Meanwhile, the SBMA landed second from BOI in the cumulative combined pledges from foreign and local investments.
From January to September, the SBMA accumulated a total of P69.9 billion in investment pledges, up by whopping 9,209.58 percent from last year's P1.03 million.
SBMA Chairman Feliciano G. Salonga said the Board of Directors approved 89 projects during the same period, 21 of which were approved during the third quarter alone.
"These new projects will open about 13,334 job opportunities to residents throughout the region," Salonga said.
Both SBMA executives expressed optimism that with the completion of the government's two flagship projects, namely, Subic-Clark-Tarlac Expressway project and Subic Port Modernization project, together with the implementation of the Subic-Clark-Kaohsiung Economic Corridor, more businesses will pour in the Subic Freeport, more employment will be generated for the residents. (PNA)
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