SUBIC BAY FREEPORT -- The Subic Bay Metropolitan Authority (SBMA) is planning to expand into surrounding communities to accommodate major development projects.
SBMA chairman and administrator Wilma Eisma said Wednesday the agency is looking into some 21,000 hectares of land in nearby communities that could be developed for more business ventures.
“We continue to fulfill our mission of attracting investments and generating jobs, even as we are now practically running out of space in the Subic Bay Freeport,” Eisma said, adding that they are currently consulting officials of nearby local government units so they could develop more areas for trade and business.
She said foreign direct investments (FDIs) continue to pour into Subic because of the SBMA’s investment promotion program.
The latest in the pipeline, she said, include at least four FDI projects worth USD10 million from Taiwan, which are separate from the PHP866-million committed investments approved by the SBMA in the first quarter of this year.
“These companies, which are into manufacturing and recycling, will initially employ at least 260 workers, and these workers would come from our neighboring communities,” she said.
Eisma added that more employment opportunities will be opened with the big-ticket investments that were approved this year.
These are the redevelopment of the Binictican Golf Course by a Japanese firm for at least USD30 million; redevelopment of the Triboa Clubhouse and facilities by a Taiwanese company for PHP2 billion; construction of a 400-room five-star hotel and resort for USD20 million; and development of the Subic Bay International Airport (SBIA) into a world-class business aviation center for USD8 million.
At present, she said, there are 1,587 business locators with more than 134,000 workers in the Subic Bay Freeport.
With development largely suitable only within the fenced-in portion of the former Subic Naval Base, Eisma said the SBMA has to expand into nearby areas to sustain local economic growth.
“It’s a good thing that the neighboring towns have pledged about 21,000 hectares for these future projects,” she said.
These include 9,000 hectares in San Antonio, Zambales, which are ideal for resort development and leisure businesses; 10,000 hectares in San Marcelino, Zambales, for agriculture, mining and quarrying; 500 to 600 hectares in Subic, Zambales for factories, agriculture, and energy; and 500 hectares in Castillejos, Zambales for light to medium industry, and warehousing.
Meanwhile, the city of Olongapo pledged 900 hectares for housing, light industry and tourism, while Hermosa, Bataan allotted 505 hectares for light to heavy industry, renewable energy, metal industry, and vehicle assembly/auction. (PNA)
