SBMA to become a key engine in nationbuilding
The Subic Bay Metropolitan Authority (SBMA) is now facing a new direction beyond its accomplishments to become a key engine in nationbuilding.
“2006 was a banner year for the SBMA. Many of you can also probably feel or sense the newfound vibrancy prevailing in the Freeport today,” SBMA Chairman Feliciano G. Salonga said during the State of the Freeport Address (SOFA).
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 Corporation (CDC).
The MLUB, which covers Central Luzon, Metro Manila, Calabarzon, Mindoro and Marinduque, will be the direct beneficiaries of the SBMA’s new challenge, said SBMA Administrator Armand C. Arreza.
During its banner year, Salonga reported, the SBMA derived revenue collections for the Bureau of Customs (BoC) and the Bureau of Internal Revenue (BIR) amounting to P6.9 billion as its contribution to the national treasury that will be used for the government’s social and development projects.
To date, the Subic Freeport’s total active workforce reached 63,485 workers that are currently employed by 768 registered Freeport enterprises.
During the same period, the SBMA Board of Directors approved 129 new projects worth US$ 1.43 billion which are projected to open as much as 16,880 job opportunities to residents of Olongapo City and Provinces of Zambales and Bataan.
Korean and Chinese businesses dominated the Foreign Direct Investment (FDI) scene in the Freeport with the entry of Hanjin Heavy Industries and Construction Co., Ltd. and Hebei Xingtai Jingniu Glass Co., Ltd. among others.
As of September 2006, a total of US$ 70 billion approved FDI pledges in the Freeport accounted for 45 percent of the total country’s FDIsthe highest among Investment Promotion Agencies (IPA) recorded by the National Statistical Coordination Board (NSCB) including the Board of Investments (BoI), Philippine Economic Zone Authority (PEZA) and CDC.
Salonga further stressed 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 Gloria Macapagal-Arroyo’s economic program.
He particularly cited that aside from Hanjin, which is deemed to be the world’s third largest shipbuilding facility after its imminent expansion; the Subic Port Development Project, privatization and commercialization of new containers in the Freeport are expected to beef up not just the investments but also the Freeport’s logistics capabilities.
Moreover, the Subic Freeport will also be a major player in the government’s Strong Republic Nautical Highway by providing a more economical alternative route for travelers, entrepreneurs, farmers and regular domestic commuters. This will similarly boost the implementation of Executive Order 588 which aims to strengthen the Philippine shipbuilding and ship repair sector, and promote the growth of the industry in the country.
“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.
Now, being among the primemovers of the MLUB, the SBMA is looking ahead of its original mandate attracting investments and providing job opportunities to the residents.
“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 the 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.
Arreza disclosed that the SBMA is gearing up to achieve a much bigger performance to par up with our Asian neighbors and drive growth and employment by aiming to attract investment pledges of up to US$ 5 billion, creating 100,000 jobs, and posting US$ 2 billion export by the year 2010.
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 takes on the road to a bigger role in nationbuilding. (PNA)
“2006 was a banner year for the SBMA. Many of you can also probably feel or sense the newfound vibrancy prevailing in the Freeport today,” SBMA Chairman Feliciano G. Salonga said during the State of the Freeport Address (SOFA).
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 Corporation (CDC).
The MLUB, which covers Central Luzon, Metro Manila, Calabarzon, Mindoro and Marinduque, will be the direct beneficiaries of the SBMA’s new challenge, said SBMA Administrator Armand C. Arreza.
During its banner year, Salonga reported, the SBMA derived revenue collections for the Bureau of Customs (BoC) and the Bureau of Internal Revenue (BIR) amounting to P6.9 billion as its contribution to the national treasury that will be used for the government’s social and development projects.
To date, the Subic Freeport’s total active workforce reached 63,485 workers that are currently employed by 768 registered Freeport enterprises.
During the same period, the SBMA Board of Directors approved 129 new projects worth US$ 1.43 billion which are projected to open as much as 16,880 job opportunities to residents of Olongapo City and Provinces of Zambales and Bataan.
Korean and Chinese businesses dominated the Foreign Direct Investment (FDI) scene in the Freeport with the entry of Hanjin Heavy Industries and Construction Co., Ltd. and Hebei Xingtai Jingniu Glass Co., Ltd. among others.
As of September 2006, a total of US$ 70 billion approved FDI pledges in the Freeport accounted for 45 percent of the total country’s FDIsthe highest among Investment Promotion Agencies (IPA) recorded by the National Statistical Coordination Board (NSCB) including the Board of Investments (BoI), Philippine Economic Zone Authority (PEZA) and CDC.
Salonga further stressed 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 Gloria Macapagal-Arroyo’s economic program.
He particularly cited that aside from Hanjin, which is deemed to be the world’s third largest shipbuilding facility after its imminent expansion; the Subic Port Development Project, privatization and commercialization of new containers in the Freeport are expected to beef up not just the investments but also the Freeport’s logistics capabilities.
Moreover, the Subic Freeport will also be a major player in the government’s Strong Republic Nautical Highway by providing a more economical alternative route for travelers, entrepreneurs, farmers and regular domestic commuters. This will similarly boost the implementation of Executive Order 588 which aims to strengthen the Philippine shipbuilding and ship repair sector, and promote the growth of the industry in the country.
“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.
Now, being among the primemovers of the MLUB, the SBMA is looking ahead of its original mandate attracting investments and providing job opportunities to the residents.
“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 the 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.
Arreza disclosed that the SBMA is gearing up to achieve a much bigger performance to par up with our Asian neighbors and drive growth and employment by aiming to attract investment pledges of up to US$ 5 billion, creating 100,000 jobs, and posting US$ 2 billion export by the year 2010.
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 takes on the road to a bigger role in nationbuilding. (PNA)
posted by OlongapoCity Zambales at
10:26 AM
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