SBMA says over 85,000 workers now in Freeport

SUBIC BAY FREEPORT, Philippines — Subic Bay Metropolitan Authority (SBMA) officials said yesterday that more than 85,200 workers are now employed in different companies in this Freeport.

SBMA Administrator Armand Arreza said the continued confidence by foreign investors, particularly Korean companies, in the business competitiveness in the Freeport led to the doubling in the number of workers here in just two years.

Arreza said the number of workers could easily jump to double the current figure once projects proposed by several Korean firms are realized in the next two years.

He cited in particular the planned construction of a $1-billion resort complex here by M Castle Inc., a Korean developer of environment-friendly luxury resorts, and the scheduled $86-million project by Hanjin Heavy Industries and Construction Corp. to locally produce ship components.

“These will be major employment-boosters,” Arreza said.

He said aside from the jobs that would be directly created by these projects, there will be thousands of employment opportunities to be generated downstream.

Reports indicated earlier that M Castle Inc. will invest in a 615-hectare property in Subic, aside from another property development project in Palawan to be undertaken with the Philippine Economic Zone Authority (PEZA).

Around 7,000 direct and 16,000 indirect jobs are said to be made available when the construction of the billion-dollar luxury resort starts, according to M Castle chairman Sang Soo Shin.

Arreza said the planned investment “would not only boost the tourism market in the country, but would also up the ante for Subic in terms of income.”

The M Castle proposal reportedly includes the development of beach and forest condominiums, a beach hotel, a casino-hotel and villas with 2,400 rooms, a 36-hole golf course, a marina club for 50 yachts, a medical center for oriental and western medicine, a water park, a shopping mall, and an English-language learning house.

The SBMA administrator said that from the planned resort complex in Subic, the local production by Hanjin of ship components will increase Subic’s active workforce by 4,000 positions.

He said the projected increase in Hanjin labor requirements was announced by company officials when they met with President Arroyo in Korea recently. By Ric Sapnu - PhilStar

Koreans plan $1-b, 615-hectare resort complex in Subic

JEJU ISLAND, South Korea—President Arroyo has secured a commitment from a Korean company to invest $1 billion in a resort complex in Subic, Zambales, that is expected to create 144,000 jobs during its construction.

Mrs. Arroyo met representatives from M Castle Inc., a Korean developer of environment-friendly luxury resorts, at the Shilla Hotel Tuesday afternoon to discuss the company’s plan to develop a 615-hectare property in Subic.

M Castle chairman Sang Soo Shin told Mrs. Arroyo that the company also planned to develop a piece of property in Palawan with the help of the Philippine Economic Zone Authority.

“I welcome M Castle’s potential investments in the Philippines and I am glad that it considered the Philippines, specifically Subic and Palawan, as the choice destinations for your business projects,” Mrs. Arroyo said.

The resort complex in Subic is expected to generate 7,000 direct and 16,000 indirect jobs once it starts operations.

Earlier, Mrs. Arroyo received assurances from Hanjin Heavy Industries and Construction Co. Inc. that it would start producing ship components worth $29 million at its Subic shipyard starting in September.

The President agreed to a request from Hanjin President Nam Ho Cho for discounted power rates for its shipyards in Subic and Misamis Oriental for the next 10 years.

Cho called on the President Monday at the Shilla Hotel with former Hanjin Philippines president Jeong Sup Shim.

The Subic Bay Metropolitan Authority has approved in principle the business plan that M Castle submitted on March 10.

In that plan, M Castle said the Subic-based facilities would include beach and forest condominiums, a beach hotel, and a casino hotel and villas with 2,400 rooms; a 36-hole golf course; a Marina club for 50 yachts; a medical center for oriental and western medicine; a water park; a shopping mall, and an academy house for English-language training.

The membership fees would range from $25,000 to $700,000, would assure clients 30 days of time share per year.

The Philippines has been experiencing a boom in the hotel and tourism industry, with a total of 1,231 additional rooms being opened during the first quarter at a cost of more than P8 billion.

Tourist arrivals grew 10.33 percent to 1.3 million in the same period, and of which Subic accounted for 7 percent.

Meanwhile, Mrs. Arroyo left Tuesday for Moscow, where she is to meet representatives from the Russian travel industry and members of the Filipino community.

From Moscow, she will proceed to St. Petersburg where she will deliver a talk on the lessons learned from the global economic crisis during the two-day St. Petersburg Economic Forum.

Mrs. Arroyo will also meet Russian President Dmitri Medvedev before returning to Manila on Saturday. (Via PLDT) By Joyce Pangco Pañares - Manila Standard Today