Exports from Subic Freeport rose 89 percent in total value in 2017 from 2016, making Subic one of the most productive freeports in the Philippines.
Subic Bay International Terminal Corp. (SBITC) said products exported by new customers in 2017 include fashion accessories like bags from Bataan, trucks and agricultural equipment from Subic, grains, feeds, and fertilizer from Bulacan, and electronic parts and general department store merchandise from Clark.
SBITC operates the New Container Terminals (NCT) 1&2 which handle shipments for businesses in Central and Northern Luzon.
Roberto Locsin, SBITC president, said many of SBITC’s customers are manufacturers that import raw materials and export finished goods.
Most of the products are exported to Asia, the United States and Europe.
“We welcome the growing number of local businesses employing our facilities in the Subic Bay International Terminal NCT 1&2,” Locsin said. “We are glad to see that these industries are discovering and taking advantage of Subic Bay as a gateway to the global market,” he added.
Locsin also sees an uptick of industries importing goods for domestic consumption.
“There is a good balance of import and export volume in the Subic terminal of about two exports for every three imports. In the succeeding months, we expect an increase in the import volume of fast-moving cargoes because of improved facilities in the terminal,” Locsin said.
For 2017, the Philippine Statistics Authority reported import growth rate of 10.2 percent and export growth rate of 9.5 percent.
The National Economic and Development Authority continues to push for the implementation of more strategies to promote Philippine products in the global market.
“More initiatives are in the works to attract more firms to avail of our services and make use of our facilities. We will continue to improve and develop our terminals to realize the full potential of Subic Bay.” Locsin said. (Malaya Business Insight)
PHOTO:
Cargo unloading at the Container Terminal in Subic Bay.
http://www.malaya.com.ph/business-news/business/subic-among-productive-freeports-ph
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