SBMA eyeing huge target for Year 2010
SUBIC BAY Freeport: Subic Bay Metropolitan Authority will be targeting around $5 billion in investments, create more than 100,000 jobs and post some $2 billion in export by the year 2010.
Subic Bay Metropolitan Authority Administrator Armand Arreza disclosed this during his speech at the State of the Freeport address (SOFA) on Tuesday.
The SOFA is held yearly and organized by the SBMA with the help of the Freeport Chamber of Commerce and the rest of the Subic Bay Freeport community.
“We are now moving on to the next level. With the imminent completion of the Subic Port Development Project and the Subic-Clark-Tarlac Expressway Project, which are both flagship projects of government, we will be ready to go out of our shell and create an impact to the neighboring provinces, not just in Subic Bay, not just in Central Luzon,” Arreza said.
Recently the national government launched the Metro Luzon Urban Beltway (MLUB) mandating the SBMA to be among the key engines in spurring growth throughout Luzon region along with Clark Development Corp.
The MLUB, which covers Central Luzon, Metro Manila, Calabarzon, Mindoro and Marinduque, will be the direct beneficiaries of the SBMA’s new challenge, said Arreza.
To date, the Subic Freeport’s total active workforce reached 63,485 workers that are currently employed by 768 registered Freeport enterprises.
Korean and Chinese businesses dominated the Foreign Direct Investment scene in the Freeport with the entry of Hanjin Heavy Industries and Construction Co., Ltd. and Hebei Xingtai Jingniu Glass Co., Ltd. among others.
SBMA chairman Feliciano Salonga for his part said that the Freeport is now in the forefront of maritime industry in the country as the Subic Freeport is being developed into a world-class shipbuilding, ship repair and general maritime services hub, which is closely aligned to President Arroyo’s economic program.
He explained that Subic Freeport would be a major player in the government’s nautical highway by providing a more economical alternative route for travelers, entrepreneurs, farmers and regular domestic commuters.
“As far as we are concerned, the ideal would be a good mix of industrialization and investments in tourism and environmental protection, a healthy balance between our main endeavors. We will see to it that as we build ships and factories, we do not destroy our God-given resources in the process,” Salonga assured.
Both Salonga and Arreza lauded the support given by locators, employees and stakeholders, and at the same time asked for their continuing support as the country’s premier Freeport is set to play a bigger role in nation building.
--Anthony Bayarong - Manila Times
Subic Bay Metropolitan Authority Administrator Armand Arreza disclosed this during his speech at the State of the Freeport address (SOFA) on Tuesday.
The SOFA is held yearly and organized by the SBMA with the help of the Freeport Chamber of Commerce and the rest of the Subic Bay Freeport community.
“We are now moving on to the next level. With the imminent completion of the Subic Port Development Project and the Subic-Clark-Tarlac Expressway Project, which are both flagship projects of government, we will be ready to go out of our shell and create an impact to the neighboring provinces, not just in Subic Bay, not just in Central Luzon,” Arreza said.
Recently the national government launched the Metro Luzon Urban Beltway (MLUB) mandating the SBMA to be among the key engines in spurring growth throughout Luzon region along with Clark Development Corp.
The MLUB, which covers Central Luzon, Metro Manila, Calabarzon, Mindoro and Marinduque, will be the direct beneficiaries of the SBMA’s new challenge, said Arreza.
To date, the Subic Freeport’s total active workforce reached 63,485 workers that are currently employed by 768 registered Freeport enterprises.
Korean and Chinese businesses dominated the Foreign Direct Investment scene in the Freeport with the entry of Hanjin Heavy Industries and Construction Co., Ltd. and Hebei Xingtai Jingniu Glass Co., Ltd. among others.
SBMA chairman Feliciano Salonga for his part said that the Freeport is now in the forefront of maritime industry in the country as the Subic Freeport is being developed into a world-class shipbuilding, ship repair and general maritime services hub, which is closely aligned to President Arroyo’s economic program.
He explained that Subic Freeport would be a major player in the government’s nautical highway by providing a more economical alternative route for travelers, entrepreneurs, farmers and regular domestic commuters.
“As far as we are concerned, the ideal would be a good mix of industrialization and investments in tourism and environmental protection, a healthy balance between our main endeavors. We will see to it that as we build ships and factories, we do not destroy our God-given resources in the process,” Salonga assured.
Both Salonga and Arreza lauded the support given by locators, employees and stakeholders, and at the same time asked for their continuing support as the country’s premier Freeport is set to play a bigger role in nation building.
--Anthony Bayarong - Manila Times
posted by OlongapoCity Zambales at
8:16 AM
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