2019 economic performance | SubicNewsLink

Showing posts with label 2019 economic performance. Show all posts
Showing posts with label 2019 economic performance. Show all posts

12 September 2019

Subic workers back to 135,000 despite Hanjin closure

A steady growth in investments in the first half of this year has increased the number of workers in this premier free port to 135,224 despite the closure in January of what used to be the single biggest employer here in the past 10 years, the Hanjin shipyard.

Figures from the Subic Bay Metropolitan Authority (SBMA) indicated a slight increase in this year’s first half employment figure of 135,224 over the 133,940 record in the same period last year.


“We’re back to more than P135,000 active workers now, which is just a shade lower than our 2018 yearend record of 135,690. But by the end of this year, we are confident that we would again break this 2018 employment record,” said SBMA Chairman and Administrator Wilma T. Eisma.

“We’re getting a steady increase in the number of new investments, as well as expansion projects, so we’re also expecting a corresponding steady increase in the number of new jobs,” she added.

Among the industries here, the service sector hired the biggest number with a total of 92,453 workers or 68.37% of the total workforce employed by a total of 2,765 companies as of July this year. In June 2018 the record was 76,652 workers (57.23%) hired by 2,470 companies.

In the manufacturing industry, there are now 23,031 employees (17.03%) working for 88 companies here in the first half of this year. Last year, there were 18,197 employees (13.59%) working for 85 companies in this category.

Meanwhile in the construction sector, there were 11,729 workers (8.67%) hired by 199 companies as of the first half of this year. Last year, there were 10,868 employees (8.115) working for 185 companies.

Eisma noted that the rehabilitation of various infrastructure facilities inside the Freeport, including roads, had significantly increased the number of workers hired by construction companies here.

On the other hand, Eisma said that there has been a 450% drop in the number of employees working in shipbuilding and marine-related services after the Korean shipbuilder Hanjin Heavy Industries & Construction Philippines, Inc. filed for bankruptcy last January.

SBMA records indicated a total of 5,901 workers (4.36%) hired by 96 firms as of the first half of 2019, compared to 26,559 (19.83%) hired by 110 companies in the first half of 2018.

Another sector that showed positive gain in the first half was the number of domestic helpers or caretakers employed at residences in the Freeport. This increased to a total of 2,110 (1.57%) from a total of 1,664 in the same period last year.

SBMA data also showed that there are more male employees in the Subic workforce today, with a total of 91,190 (67.44%) compared to 44,034 females (32.56%).

However, the females are catching up considering that there were just 39,079 female workers (29.18%) in Subic last year, compared to 94,861 (70.82%) males.

Among the sources of manpower, Olongapo City remained to be the biggest provider in the frist half of 2019 with a total of 59,107 workers (43.71%), followed by Zambales with 28,855 (21.34%); Bataan, 18,501 (13.68%); National Capital Region, 4,642 (3.43%); Pampanga, 3,574 (2.64%); and Tarlac, 1,679 (1.24%). Other areas contributed a total of 18,866 workers, or 13.95%.

Eisma said the SBMA expects a continuing growth in employment generation with the 45 new investments and 21 expansion projects the agency approved in the first six months this year.

The new investment commitments worth more than P5 billion are projected to generate close to 4,000 new jobs, Eisma added. (JRR/MPD-SBMA)

PHOTO:

Workers enter the Subic Bay Freeport main gate to get to their work places. (MPD-SBMA)

05 September 2019

SBMA approves P4.48-billion new investments, P555-million expansion projects in 1st half

The Subic Bay Metropolitan Authority (SBMA) approved new investment projects worth P4.48 billion in the first half of this year, eclipsing by 42% last year’s new investments record of P3.15 billion for the same period.

SBMA Chairman and Administrator Wilma T. Eisma said a total of 77 new investment projects were recorded from January to June 2019, with 41 approvals worth P3.57 billion in the first quarter and 36 projects worth P902.1 million in the second quarter.


In contrast, 45 new investment projects were approved in the Subic Bay Freeport Zone in the first half of 2018, with P1.17 billion worth of projects in January to March and P1.98 billion in April to June.

Meanwhile, the SBMA also green-lighted 21 expansion projects in the first six months this year, generating investment commitments totaling P555.2 million, Eisma said.

These included 9 expansions worth P515.3 million in the first quarter and 12 expansion projects valued at P39.8 million in the second quarter.

The number of expansion projects in Subic increased from 10 in the first half of 2018 to 21 this year, with committed investments growing from P276.2 million in 2018 to P555.2 million in 2019, or a growth of more than 100%.

The continuing entry of investor-companies in Subic, Eisma said, had resulted from the hard work of the agency to draw more business despite stiff global competition for foreign direct investments.

“More investor companies are coming to Subic, but we have to ensure that they get the right environment so that they will continue to bring their business here,” Eisma said in the Subic Labor Congress held here recently.

“The SBMA is working very hard to ensure jobs for local workers, but I challenge you to have the necessary skills,” she also told participants in the assembly.

Figures from the SBMA Business and Investment Group indicated that the 77 new investment projects in the first half of 2019 gave a projected employment total of 2,003, while expansion projects yielded 1,670 new jobs for a total of 3,673.

Following the established trend, leisure projects comprised most of the new investments with 15 approvals in the first quarter and 14 in the second quarter for a total of 29 projects.

Projects under general business had the second most approvals at 16, followed by logistics projects at 15, maritime and manufacturing at 11, and information and communications technology at 6.

Among the new projects, the five biggest in terms of committed investments are those of Sinoinvest Resources, Inc., which pledged P1.2 billion for a leisure project; Smart & Plan Subic Logistics and Development Corp. with P1 billion for another leisure venture; Arjuna Sand Trading, Inc., with P628.9 million for a logistics project; Worldwide Grace, Inc., with P515 million for general business; and Taiyo Subic Philippines Corp., with P392.5 million for a manufacturing project.

For the expansion projects, Datian Subic Shoes, Inc. has the biggest investment commitment at P316.6 million, while servo-motor manufacturer Sanyo Denki Phils., Inc. pledged the second biggest at P119.6 million.

Datian Subic Shoes, Inc.’s expansion project is also expected to turn out the most number of new jobs at 1,500.

The next biggest projection came from Sinoinvest Resources with 500 new jobs; Juan Fong Industrial Corp., 305; and Philippines Easepal Technology with 270. (HEE/MPD-SBMA)