Greek business community eyes investments in Subic Freeport

Greek companies under the Hellenic-ASEAN Business Council (HABC) are considering investing in this premier Freeport after expressing positive feedback during their visit here on November 7, 2025.

Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Eduardo Jose L. Aliño welcomed the HABC delegation led by its Chairman Nick Stasinopoulos and Athens Ambassador to the Philippines Giovanni E. Palec upon arrival at the agency’s administration building. 

SBMA Board Director Atty. Ruel John Kabigting, Business and Investment Group (BIG) Senior Deputy Administrator (SDA), Renato Lee III, Business and Investment Department (BID) for Logistics account officer Joemando De Vera assisted Aliño in welcoming the foreign dignitaries during their visit.

According to HABC Chairman Stasinopoulos, the visit strengthens economic trade and cultural ties with the Philippines and Southeast Asian countries. 

“Our purpose here is to strengthen the Greek presence and to create more awareness of the potential in investments, specifically now in Subic, and how we can bring stakeholders together and facilitate joint ventures and interesting projects that could be a win-win situation for the community and the Philippine government,” he added.

Stasinopoulos hosted the first Philippine Business Roundtable in September 2025, which encouraged Greek companies to invest and do business in the Philippines.

At a presentation held at the SBMA Corporate Boardroom, the HABC delegates showed interest in shipbuilding and the cruise ship industry, which have been major staple activities in the Subic Bay Freeport Zone. 

The CREATE MORE Act, which aims to attract more foreign investments, was also discussed during the briefing, where Aliño said that the agency offers benefits such as a 20% corporate income tax rate (from 25%) for registered business enterprises, a 100% deduction on electricity expenses, and additional deductions for trade fairs and tourism investments.

Meanwhile, Lee said that local purchases made by the investors are VAT zero-rated, and importations are VAT-exempt for export-oriented enterprises. He added that tax and duty exemptions are provided for donations to public schools and government-owned or controlled corporations (GOCCs).

The HABC is a non-profit organization dedicated to fostering bilateral trade, investment, and socio-cultural collaboration between Greece and the ten member-nations of the Association of Southeast Asian Nations (ASEAN). It serves as a strategic platform that connects key stakeholders, including government officials, business leaders, and industry experts, to explore new avenues of cooperation. (MPD-SBMA) 

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Japan pledges assistance for Subic Bay master plan

Japan has pledged to extend technical assistance for the development of the Subic Bay Freeport Zone and its surrounding areas, according to the Department of Finance (DOF).

In a statement, the DOF said Japan Prime Minister Shinzo Abe has conveyed Japan’s commitment to provide assistance in crafting a master plan for the regional development of Subic Bay.

This happened during their bilateral meeting on Monday on the sidelines of the 35th Association of Southeast Asian Nations (ASEAN) Summit in Bangkok, Thailand.

“The two leaders affirmed that the Japanese assistance is a testament to the deepening strategic partnership between Japan and the Philippines,” the DOF said.

According to the DOF, the proposed master plan would outline possible projects in Subic Bay and its surrounding areas, particularly in the fields of road network development, logistics terminal development, disaster risk management and other public utilities development.

Japan remains to be the top provider of official development assistance (ODA) loans and grants to the Philippines, totaling $8.26 billion as of December 2018. This accounts for 46 percent of the country’s total ODA loan portfolio.

Since 2016, the DOF said Manila and Tokyo have signed 10 loan agreements, which provide Japanese funding support for big-ticket infrastructure projects under the Duterte administration’s Build Build Build program. (Mary Grace Padin, Philippine Star)

PHOTO:

Philippine President Rodrigo Duterte and Japanese Prime Minister Shinzo Abe.


https://www.philstar.com/business/2019/11/08/1966831/japan-pledges-assistance-subic-bay-master-plan

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Central Luzon pushed as ideal site for Taiwan’s southbound trade

The Philippines is now pushing to establish Central Luzon as the ideal destination for Taiwanese investments under Taiwan’s New Southbound Policy that seeks enhanced economic collaboration with countries in Southeast Asia, South Asia and Australasia.

Speaking as a member of the Philippine delegation in the recent Philippine Investment Promotion Plan (PIPP) Investment Roadshow to Taiwan, Subic Bay Metropolitan Authority (SBMA) Administrator Wilma Eisma urged Taiwanese business groups in Taipei and Taichung City to take a closer look at the so-called Central Luzon Manufacturing and Logistics Zone (CMLZ) as a prime investment destination.

She said the CMLZ, which is composed of the Clark Freeport, the Subic Bay Freeport, and the Freeport Area of Bataan, covers a land area of more than 90,000 hectares, has several advantages that make it a haven for businesses, and is managed by devoted agencies that have come together as one unit.

The first advantage of locating in CMLZ, she told the businessmen, is its strategic location. Eisma said the CMLZ “is a critical entry point to the ASEAN region populated by some 650 million people, as well as a natural gateway to East Asian economies such as China, Japan, Hong Kong, Singapore, Taiwan and South Korea.”

Moreover, the CMLZ is at the crossroads of international shipping and air lanes, and accessible to the ASEAN region within three to four hours by plane via the Clark International Airport and four days by ship to and from the Port of Subic.

She added that the three free port zones in the CMLZ are perfect for targeted key industries like electronics, automotive parts and aerospace products for Clark; shipbuilding and maritime industries, including cruise ships for Subic; and high-end garments manufacturing for Bataan.

The Taiwan investment roadshow was organized by the PIPP, an aggrupation of 19 investments agencies that seeks to create quality jobs by attracting high-impact, innovative, and inclusive investments.

The SBMA is one of the seven investment promotion agencies that make up the manufacturing and logistics/IT-BPM cluster of the IPP. (HEE/MPD-SBMA)

Photos from Team Invest Philippines in Taiwan album c/o Ms. Jem Camba

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SBMA bags top slot in Asia CEO 2016 Awards

The Subic Bay Metropolitan Authority (SBMA) added another feather to its cap as the Executive Leadership Team of the Year in the recently concluded Asia CEO 2016 Awards night.

On hand to receive the top award of the evening was former SBMA chairman and current administrator Roberto Garcia during whose term as chairman the agency’s exceptional performance and financial breakthroughs were achieved.
In his brief acceptance remarks, Garcia said that when he assumed the chairmanship in 2011, “the SBMA’s management team and staff were demoralized for having received only one salary increase for 18 years, and the agency was suffering from tremendous losses”.

“It was a challenge to them to turn around (the agency) and rally to the theme that we had, which was “Good governance makes good business”.

This, Garcia said, spurred the team “to produce historic records for SBMA in terms of revenues, profits, investments, and the number of jobs generated”.

“This award is really a testimonial to them,” Garcia added, referring to the SBMA’s present management team, which has been in place since 2007.

After thanking the Asia CEO for the honor bestowed upon the SBMA, Garcia said, “This is an inspiration and a message to my fellow workers in government that we can excel and we have excelled…that government agencies like the GSIS can deliver world-class service that can compete with the best in the Philippines”.

From among 16 awards given that evening, the GSIS received the Service Excellence Company of the Year award and was the only other government entity aside from SBMA among the roster of winners.

The Asia CEO Awards, which aims to promote the Philippines on the world stage, is the largest business awards event of its kind in the Philippines and the Asia Pacific region, representing the most outstanding grouping of local and international business people and organizations in both the private and public sectors.

The SBMA was chosen from among six (6) finalists by a board of judges, which received the highest number of submissions in the history of Asia CEO Awards.

For the Executive Leadership Team of the Year award, the judges based their choices on five (5) basic criteria, which were leadership and good governance, financial contribution, pioneering achievements, social commitment, and international recognition.

Last year, the Subic Bay Freeport, which is managed by SBMA, was recognized in the Global Free Zones of the Year 2015 Awards as overall winner in Asia, and overall winner in the sub-region of South and Southeast Asia, and commendations in the form of bespoke awards for infrastructure developments and reinvestment.

With Subic acknowledged today as the best performing free port zone in the country, the reins of the SBMA were turned over to SBMA chairman Martin B. Diño last October 3. (SNL)

PHOTO:
Former SBMA chairman Roberto Garcia (middle) relishes a proud moment in SBMA history after the agency was declared the Executive Leadership Team of the Year in the recently concluded Asia CEO 2016 Awards. With him are the top guns of the other finalists in the same category.

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SBMA chosen as finalist in 2016 Asia CEO Awards

The Subic Bay Metropolitan Authority (SBMA) has made it to the list of finalists in this year’s upcoming Asia CEO Awards, the largest business awards event in Philippines and one of the biggest of its kind in the Asia Pacific region.

According to a list published in the Asia CEO Awards website, the SBMA is one of the six finalists for the Executive Leadership Team of the Year award, and the only government entity vying for the title in this category.

The other finalists are contact center and performance marketer Acquire BPO; top BPO firm Cognizant Technology Solutions Philippines, Inc.; appliance maker Concepcion Industrial Corporation; electronics manufacturer Integrated Micro-Electronics Inc.; and cargo logistics giant LBC Express, Inc.

The Asia CEO Awards, which is presented by PLDT Alpha Enterprise, recognize extraordinary leaders who have demonstrated outstanding achievement for their organizations and contributions to others.

Its purpose is to promote the ASEAN region as a premier business destination and is considered a must-attend occasion for business leaders active in the region.

The annual awards presentation was established as a natural outgrowth of Asia CEO Forum, the largest regular networking event for the business community in Philippines.

Among the awards presented are: Global Top Employer of the Year, Global Filipino Executive of the Year, Expatriate Executive of the Year, Service Excellence Company of the Year, Young Leader of the Year, Green Company of the Year, CSR Company of the Year, SME Company of the Year, Heart for OFWs Company of the Year, Entrepreneur of the Year, Technology Company of the Year, Most Innovative Company of the Year, and ASEAN Company of the Year.

The Executive Leadership Team of the Year award, for which the SBMA has been nominated, is given to honor an executive management team of any organization that exhibited exceptional leadership skills resulting in the maximization of stakeholders’ values and has attained significant business accomplishments.

This award was presented to Clark Development Corporation during the 2015 Asia CEO Awards, and to SM Prime Holdings in 2014.

This year, the Asia CEO Awards Night will be held on October 18, at the grand ballroom of Marriott Hotel Manila, the largest in the nation. It is expected to be attended by more than 1,200 of the most senior executive managers active in Philippines and across the Asia Pacific region.

The SBMA, which manages the Subic Bay Freeport Zone, has lately received recognition for its record-setting financial performance in the last four years under SBMA chairman and administrator Roberto Garcia.

Last year the Subic Bay Freeport garnered two major citations in the Global Free Zones of the Year 2015 Awards: overall winner in Asia, and overall winner in the sub-region of South and Southeast Asia.

The Subic Freeport also received commendations in the form of bespoke awards for infrastructure developments and reinvestment. (HEE/MPD-SBMA)

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Honeywell eyes additional investment for its Subic Bay operations

Honeywell Aerospace, the world's largest manufacturer of aircraft engines and avionics, may increase investments across Asia Pacific, including the Philippines, as it anticipates higher air traffic in the region following the ratification of the ASEAN Open Skies agreement.

Honeywell Aerospace Asia Pacific president Steven Lien said in an email, the company expects growth in both regional and domestic air traffic with the ratification of the ASEAN Open Skies policy by all 10 member states.

“As the aviation industry continues to grow in Asia Pacific and in the Philippines, Honeywell is committed to supporting the needs of the industry and is confident that this will translate into increased investments across our Asia Pacific facilities, including Subic Bay,” Lien said.

Honeywell’s Philippine facility in Subic Bay provides maintenance, repair and overhaul services for commercial aviation wheels and brakes. Its facility at the Subic Technopark opened in 2003 as Honeywell Ceasa (Subic bay) Company Incorporated.

Lien said the Philippines has played an important role in Honeywell’s operations as the Subic Bay facility has enabled the company to strengthen network support.

In particular, the Honeywell Subic Bay facility has been working closely with local distributors and dealers to offer products and services to airlines operating in the Philippines and around the Asia Pacific region.

The ASEAN Open Skies agreement allows designated carriers of ASEAN countries to operate unlimited flights between capitals.

With growth in both regional and domestic air traffic expected, Honeywell is prepared to pour in funds to address the demand of the aviation industry.

Honeywell is a Fortune 100 diversified technology and manufacturing company providing aerospace products and services, control technologies for buildings, homes and industry; turbochargers; and performance materials.

The company’s aerospace unit develops innovative solutions intended to make more fuel efficient airplanes, more direct and on-time flights, as well as safer flying and runway traffic.

It is likewise engaged in providing advanced aircraft engines, cockpit and cabin electronics, wireless connectivity services and logistics. (The Philippine Star)

PHOTO:
Honeywell Ceasa (Subic Bay) Co., Inc. was recently conferred the Mabuhay Business Award by the Subic Bay Metropolitan Authority (SBMA) as among 15 business locators in Subic Bay that have strengthened the local economy and contributed significantly to the growth of the country’s gross domestic product. Honeywell Subic is a P435-million firm providing repair and overhaul of aircraft wheels, brakes and other aircraft equipment.

http://www.philstar.com/business/2016/05/19/1584543/honeywell-eyes-more-investments-asia

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Subic Freeport, overall winner in Asia of Global Free Zones of the Year 2015 award

The Subic Bay Metropolitan Authority (SBMA) adds another feather to its cap of achievements in the management and administration of the country’s first free port.

After the agency’s record highs for three (3) consecutive years, SBMA chairman and administrator Roberto Garcia announced today that the Freeport garnered two (2) major awards in the recently concluded survey for the Global Free Zones of the Year 2015 awards: overall winner in Asia and overall winner in the sub-region of South and Southeast Asia.

The Subic Freeport also received commendations in the form of bespoke awards for infrastructure developments and reinvestment. “Some locations, which were particularly outstanding, were acknowledged with honorable mentions and bespoke awards,” Garcia explained.

According to Garcia, the publication received a total of 76 entries from all over the world, which were individually studied by a panel of judges who then nominated their winning and runner-up locations in each region.

“Emerging as overall winner in Asia, as well as in South and Southeast Asia, is a significant indicator of Subic Freeport’s level of competitiveness among other zones in the region,” Garcia said.

Garcia added that the awards also underscore the Freeport’s attractiveness and potential as an investment site and validates the strategies that the Subic agency has been undertaken to spur the zone toward further growth.

The survey was conducted by the fDi Magazine, an 11-year old bi-monthly publication of The Financial Times, Ltd. of London, to acknowledge the most promising free zones across the world. Invited to join were free zones, government entities, and investment promotion bodies, which were asked to complete a short survey, detailing their zone’s attractiveness, facilities, and incentives offered to investors.

Survey questions included growth performance measures for 2013 and 2014; what multinational companies have chosen to locate in the zone and why; which tenants have chosen to undertake recent expansion of their presence in the zone; and what initiatives have been implemented to offered in the last 12 months to increase tenant numbers, including any special incentives, programmes, or facilities catering specifically to small medium enterprises or start-ups.

Also asked were infrastructure developments or facilities upgrades in the last 12 months, as well as major development plans to facilitate future expansion.

Wrapping up, the SBMA chairman pointed out, “These awards also mean that we’re on the right track and doing the right thing, and exerting our best effort as a team”. (KMF/CorComm-SBMA)

PHOTO:

SBMA Chairman Roberto Garcia announces the “Global Free Zone of the Year” Award received by the Subic Bay Freeport Zone from fDi Magazine, a publication of the Financial Times of London. (AMD/MPD-SBMA)

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Philippines' Subic seen as investment-worthy for Taiwan

Taiwanese businessmen are coming back to Subic Bay again after a previous investment craze in the 1990s, as the Philippines is once more being seen as an ideal springboard for tapping into the promising Southeast Asian market.

With lingering economic challenges in Europe and only moderate growth in the United States and Japan, developing Asian countries have become a major driving force for the global economy in recent years.

In particular, the Association of Southeast Asian Nations (ASEAN) economies seem to have brighter prospects because they are expected to transform into a single market and production base in the near future.

Jeff Lin (林繼武), president of Subic Bay Development Management Center Inc. (SBDMC), a joint venture between the local government authority and Taiwan's United Development Corp. (世華開發), told CNA that the ASEAN market looks promising in terms of its manufacturing sector and trade, thanks to the region's economic ties with China, Japan, South Korea, India, Australia and New Zealand.

Lin suggested that Taiwanese businessmen should take advantage of the Philippines as a springboard to the ASEAN market, which has a population of 640 million and a combined gross domestic product of US$2.4 trillion.

In the Subic Bay Special Economic Zone (SBSEZ), there are no taxes for investors except for a 5 percent tax on gross income, which can help save costs for investors, Lin said. If at least 40 percent of the investors' products are manufactured locally, their products will be duty-free when sold in the ASEAN market, he added.

Roberto Garcia, chairman of the Subic Bay Metropolitan Authority, said in a recent press conference that the Subic Bay Special Economic Zone is expanding its scale to neighboring areas because of an increasing number of investors who need more industrial land.

The first-phase complex of the Subic Bay Gateway Park, operated by SBDMC, has almost reached its full capacity with more than 170 companies currently operating there, of which roughly 30 percent are from Taiwan.

Taiwanese investment in Subic Bay is estimated at US$700 million. (CNA)

(By Emerson Lim and Jeffrey Wu)

PHOTO:
SBDMC headquarters at the Subic Gateway Park

http://focustaiwan.tw/news/aeco/201510040008.aspx

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Central Luzon ‘well-poised’ for Asean economic integration

CITY OF SAN FERNANDO -- Central Luzon is in a strong position to partake in the economic integration of the Association of Southeast Asian Nations (Asean) next year, an official of the Regional Development Council (RDC-3) in Central Luzon assured, citing vigorous economic progress and positive image in the international community.

“What does it mean for us here in Central Luzon? First of all this is not an option for us because we are all involved here and all of us are stakeholders and are bound to feel the impacts of the integration,” RDC-3 chairman and Bulacan Governor Wilhelmino Sy-Alvarado clarified during the RDC-3 Forum on the Asean Economic Community (AEC) held recently at the National Economic and Development Authority (Neda-3) Central Luzon Office, Diosdado Macapagal Government Center, this city.

Alvarado revealed that the RDC-3, in particular, was tasked to determine the opportunities and challenges of establishing relevant programs, which will highlight the strengths of the Central Luzon within the context of the impending Asean economic integration.

“By December next year, the Asean Economic Community or AEC will take full effect, although this is not something new because we know that the initiative for integration was signed way back in 2000 during the Asean 2000 Summit,” he said.

The forum, which concurrently served as the 14th Session of the RDC-3, was participated in by key government and private stakeholders, including lawyer Jonas Leones, Undersecretary, Department of Environment and Natural Resources (DENR); Brenda Joyce Mendoza, Director, Neda Trade and Services and Industry Staff; Alberto Lina, Chairman, Lina Group of Companies; Severino Santos, Director, Neda-3; and other local officials of Central Luzon.

"The forum on Asean Economic Community of the RDC-3 aims to increase the level of awareness of RDC3 members and other stakeholders on AEC, particularly its implications to national and regional economy," said Santos.

Leones stressed the competitive edge of Central Luzon in the Asean economic integration in terms of its strategic location, covering both the Subic Bay Freeport Zone and the Clark Freeport Zone, which has its own international airport.

“Central Luzon has been identified as the new ‘epicenter’ of big investments because of the massive influx of opportunities here, especially in the Subic and Clark. It certainly has a high potential to perform well on the Asean economic integration next year,” Leones said.

Mendoza shared that the AEC offers massive business opportunities that both the public and the private sector must exploit to copiously benefit from its advantages.

"The asean Economic Community is something not to be feared about. AEC can be explored and taken advantage of," urged Mendoza.

Challenges ahead

Central Luzon may be a robust economic player in the international stage, especially in the Asia-Pacific region, but Alvarado said the government still has a long way to go in terms of creating development strategies that will ensure its readiness for AEC implementation.

“Most of us who have been with the RDC can attest that for many years now we have been working towards the realization of some very important critical infrastructures for Central Luzon such as the Clark International Airport, coastal highway that will link Sangley Point in Cavite to the Bataan Special Economic Zone, North Rail or mass transport system linking Metro Manila to the Clark International Airport and the Balog-balog dam to name a few,” cited Alvarado.

Small and Medium Enterprises (SMEs), according to Alvarado, are also expected to significantly gain from the trade and investment opportunities of this new arrangement but there are still some key economic issues that needs to be addressed.

“For example, on the target of eliminating or having zero tariff rates—as early as January 2010, more than 99 percent of tariff lines between ASEAN six member countries have been brought down to zero in line with the goals of ASEAN Free Trade Area or AFTA,” he said adding that ASEAN must work on further eliminating trade barriers and undertaking agreements with important economic powers, including China, India, Japan, South Korea, Australia and New Zealand.

Competitive advantages

Mendoza, nevertheless, mentioned that the country is already "well-poised" to compete with its neighbors in the Southeast Asian region.

"The Philippines has been gaining the confidence of international community as evidenced by the credit rating upgrades given by debt-watchers Moody's Investor Service and Fitch Ratings. This means that we are in a great position in terms of the economy," she said.

The growth from 2010 to 2013, according to Neda, recorded the highest four-year average growth since 1979 and this will ascertain that the Philippines will gain from the AEC.

Meanwhile, Alvarado supported this statement, citing the presence of many Filipinos abroad.

“Our network of Overseas Filipinos stands out as a distinct advantage over Asean counterparts because relatively, most of the Philippines’ work force is proficient in English. Another advantage is that we have the high average growth or Gross Domestic Product in the current decade,” he said.

The Asean integration puts in motion the materialization of the AEC, which envision Southeast Asia as "a single market and production base, a highly competitive economic region, a region of equitable economic development, and a region fully integrated into the global economy."

The Asean is a 10-nation regional bloc that includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. (Ferth Vandensteen Manaysay, Sun Star Pampanga)

http://www.sunstar.com.ph/pampanga/local-news/2014/12/22/central-luzon-well-poised-asean-economic-integration-383323

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Rich cultural exchange between Filipinos and Koreans in Subic

“South Korea and the Philippines have a long history together. South Korea’s political, economic and cultural ties with the Philippines are stronger than before.”

This was the statement made by Hanjin Heavy Industries and Construction-Philippines President Jin Kyu Ahn during the opening ceremony of the Korean Cultural Festival at the Redondo shipbuilding facility on Wednesday.

With the theme: “Hi Korea Anneong ASEAN,” the Korea Cultural Festival is in line with the celebration of the 25th anniversary of the relationship between South Korea and the Association of Southeast Asian Nations (ASEAN). The celebration is a precursor to the two-day Korea-ASEAN Summit that will take place on December 11 in Busan, South Korea.

Ahn said that the evolving partnership between the Philippines and South Korea rests on a foundation of shared values and interests. He added that the vessels made by the company are a testament of the two countries’ ingenuity and hardwork.

Director for Korean Cultural Center Hon. Chung-Suk Oh and other Korean diplomatic officials who came to the event were welcomed by some 25,000 shipbuilding workers at the Redondo facility.

The Filipino workers were treated to a Korean traditional dance, as five beautiful Korean performers dressed in Hanbok gracefully danced onstage. A ballet dance was also showcased in the event.

Other highlights of the night were a balancing act, a traditional drum exhibition and a band performance by Korean artists. (Jonas Reyes, Manila Bulletin)

PHOTO:
KOREAN HERITAGE – Dancers in colorful Korean Hanbok perform during the Korea Culture Festival at the Hanjin shipbuilding facility in Redondo Peninsula, Subic on Wednesday.

http://www.mb.com.ph/rich-cultural-exchange-between-filipinos-and-koreans-in-subic/

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NYK opens direct routes to Subic Freeport

Another international shipping line has opened a direct route between this free port and the major ports of Japan and Singapore, joining a growing number of shippers that now call on Subic following its classification as an extension port of Manila.

Subic Bay Metropolitan Authority (SBMA) Chairman Roberto V. Garcia announced on Wednesday that Nippon Yusen Kaisha (NYK) Line, one of the world's leading transportation companies, will open direct routes from Japan to Subic and from Subic to Singapore.

Garcia finalized an agreement for the new shipping route late last month with Capt. Chak Kwok Wai, chairman and managing director of the NYK Group; Ian T. Maambong, NYK sales manager for export; Dan Florentino, chief operating officer of the Transnational Diversified Group; and Tony Ramos, administrative officer of Subic Bay International Terminal Corp.

“The opening of NYK’s direct routes to Subic is intended to provide an alternative solution to the port congestion in Manila,” Garcia explained.

“NYK has stressed that it opened the routes as a contribution to help solve the current concerns in Manila and in response to the Philippine government’s request to decongest Manila ports,” Garcia added.

The NYK Group, which is based in Japan, is a comprehensive global-logistics enterprise offering ocean, land, and air transport services.

Under the agreement, NYK will be providing Subic discharge and load options for urgent cargoes, thereby helping to minimize their vessel’s overall port stay in Manila.

Garcia said that NYK will start an adhoc call at the Port of Subic using its 2,300-TEU capacity target vessel MV Jakarta Tower exclusively for NYK bookings. Jakarta Tower is scheduled to make its first Subic call on November 22.

Daniel Ventanilla, general manager of NYK Fil-Japan Shipping Corp., said in a message to Garcia that NYK’s new line to Subic is marked by many milestones.

“This will be the first service in the Philippines to make a direct call from Japan to Subic, in addition to the regular Taiwan-Subic call,” Ventanilla said.

“It will also be the first service to call from Subic to Singapore, a major transshipment port providing numerous connections to East Asia, the Middle East, South Asia, Europe, Africa, North America, Australia and New Zealand ports,” he added.

The SBMA said earlier that the Southeast Asian shipping community is starting to notice the potentials of the Port of Subic as an ideal port to move and transship both containerized and bulk cargo shipments.
​
"With the entry of NYK, our port would virtually become a gateway to ASEAN, Africa, Europe, and North America," Garcia noted.

Last month, China-based SITC Container Lines Philippines, Inc. opened a direct route from Xiamen, China to Subic when its container ship MV Sicilia made its maiden voyage to Subic and unloaded 22 containers at the New Container Terminal (NCT) 2.

The cargoes included products from Guangxi, Sichuan and Shanghai, all in China, respectively for Orica Philippines in Limay, Bataan; Nestle Philippines Inc. in Cabuyao, Laguna; and Manila World Transport, Inc. in Metro Manila. (HEE/MPD-SBMA)

PHOTO:
NEW SHIPPING LINE: SBMA Chairman Roberto V. Garcia (left) meets with representatives of the NYK Group South Asia Pte Ltd. to discuss the potential of NYK Shipping Line calling on the Port of Subic. Present during the meeting are, from far left: Tony Ramos, admin officer of Subic Bay International Terminal Corp.; Ian T. Maambong, sales manager for export, NYK Group; Capt. Chak Kwok Wai, chairman and managing director, NYK Group; and Dan C. Florentino, chief operating officer, Transnational Diversified Group.

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Asian ports meet in Subic to strengthen regional integration

Leaders and delegates from eight major ports in Asia are meeting at the Port of Subic for the three-day 16th General Assembly and Symposium of the International Network of Affiliated Ports (INAP), which began Wednesday.

The delegates came from the INAP-member ports of Colombo in Sri Lanka, Mokpo New Port and Dangjin in South Korea, Tanjung Perak in Indonesia, Qingdao in China, and Subic and Cebu in the Philippines.

With the theme, “Opportunities of ASEAN Integration,” the gathering focuses on port innovations, as well as mutual opportunities for increased competitiveness, productivity, and cooperation.

The meeting also paved the way for outgoing INAP chairman Gov. Masanao Ozaki of the Kochi Prefecture in Japan to officially turn over the INAP leadership to Subic Bay Metropolitan Authority (SBMA) Chairman Roberto Garcia.

As head of the host port, Garcia opened the conference, pointing out that the event is very important, not only for the Philippines, but also for all the ASEAN countries that rely on their ports for increased commerce.

“As with the theme, we should take advantage of the opportunities of ASEAN integration and explore the business opportunities each port and host city is ready to offer,” Garcia said.

Garcia added that the Port of Subic is eyeing a major role in Philippine shipping after President Aquino declared Subic and the Port of Batangas as extensions of the Port of Manila, which has long suffered from port congestion.

Presenting the Subic Bay Freeport’s role in the ASEAN Integration, SBMA OIC-deputy administrator for business and investment group Ronnie Yambao noted that the Subic Freeport is being utilized as a manufacturing base and logistics center by local and foreign investors from the region.

He added that Subic, along with other Asian ports, has joined the Asian Cruise Terminals Association (ACTA), which is considered a strategic move to attract major cruise ships plying the Asian tourism route.

“With these developments, the Port of Subic is playing key roles in the ASEAN integration by serving as transshipment hub in this part of the region,” Yambao added.

Meanwhile, Prof. Paolo Jamil Francisco of the Asian Institute of Management (AIM) who talked about ASEAN integration, said that the concept is becoming accepted by ASEAN countries and is now being practiced by many investors and manufacturers.

Francisco cited as an example a popular car manufacturer, which produces parts in various ASEAN countries like Thailand, Malaysia, and the Philippines.

Francisco urged the attending INAP members to cooperate with the government, “co-opete” (compete-cooperate) with other firms, consolidate capabilities and strengths, and take advantage of the challenge.

“While competing with other firms, everyone must cooperate with them on how to improve their products, and meet the required materials and supplies,” he said.

Francisco’s statement was supported by Roberto Locsin, general manager of Subic Bay International Terminal Corp. (SBITC), saying two Japanese companies are now shipping cargoes via Subic as a result of the congestion in the Port of Manila. (RAV/MPD-SBMA)

PHOTO:
SBMA Chairman Roberto V. Garcia (middle) links arms with other leaders of the International Network of Affiliated Ports (INAP) in front of the iconic Spanish Gate during the opening of the 16th INAP General Assembly and Symposium at the Subic Bay Freeport.  The three-day conference will focus on port innovations and the promotion of competitiveness, productivity and regional cooperation. (AED)

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INAP members meet in Subic Freeport for greater cooperation

Regional port innovations for mutual opportunities and cooperation will be the main focus for members of the International Network of Affiliated Ports (INAP) when they meet at the Port of Subic for the 16th General Assembly and Symposium on November 11-13.

At this year's conference to be held at the Subic Bay Exhibition and Convention Center (SBECC), representatives of each of the seven member-ports are expected to present and discuss current and future developments in their respective areas.

On the other hand, port-related topics will be discussed by invited speakers, such as Green Port Initiative by Luis Cuison, manager of the Port of Puerto Princesa; Port Security by Roland Recomono, administrator of the Office of Transport Security-DOTC; and Lessons on Coastal Disasters by Ryuichi Kuwajima of the Japan International Cooperation Agency (JICA).

The conference will also pave way for Chairman Roberto Garcia of the Subic Bay Metropolitan Authority (SBMA), which manages the Port of Subic, to officially accept the INAP chairmanship for 2014, replacing Governor Masanao Ozaki of the Kochi Prefecture Government in Japan.

“We are honored to accept the chairmanship of INAP and host this very important conference of heads of ports in the region for the third time,” Garcia said.

He noted that Subic is all ready to host the three-day activity that is expected to fortify cooperation among member ports to promote competitiveness and productivity.

INAP was formed in 1998 with the primary objective of enhancing the port network, integrating individual affiliates, exchanging information on port development, and strengthening economic and cultural relationships.

Upon entering INAP, new members are required to establish a sister-port or -city relationship with any of the members.

At this year's conference, a total of 83 delegates from all member ports will be arriving in Subic for the three-day assembly, with the Port of Kochi (Japan) sending the biggest delegation.

Other member-ports include Port of Colombo, Sri Lanka; Mokpo New Port, South Korea; Port of Tanjung Perak, Indonesia; Port of Qingdao, China, and the Port of Subic and Port of Cebu in the Philippines.

The newest entry to the INAP roster, the Port of Dangjin in South Korean, will officially be accepted as the eighth member during the assembly and make its own presentation. The mayor of Dangjin City is expected to head the delegation to Subic.

During the assembly, officials from the Port of Subic will also have the opportunity to promote the area as an investment destination during the scheduled two break-out business sessions with the Port of Mokpo and the Port of Kochi. SBMA officials said this would be a milestone for the Port of Subic.

While in Subic, delegates and representatives will be treated by the SBMA to a tour of the Freeport, a welcome dinner at the Light House Marina Resort, and a farewell dinner at the Subic Bay Yacht Club. (RAV/MPD-SBMA)

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40th PBC submits 8-point Resolutions to PNoy

The following are the approved 8-point Resolutions of the 40th Philippine Business Conference and submitted to President Benigno S. Aquino III during the final day of the conference on October 24, 2014 at the Manila Hotel.

1.ENERGY AND POWER:

•Resolution urging the National Government to formulate an integrated and sustainable energy and power development roadmap with a clear, definite target level of power supply capacity and rate; doable and time-bound strategies to achieve the desired goals; a well-defined process that shall be directed, facilitated and regularly reviewed by an authoritative body; and, premised on the goal to revitalize manufacturing, attract more quality foreign investments and achieve sustainable and inclusive growth

•Resolution supporting the implementation of the Department of Energy’s (DOE) Demand Aggregation and Auctioning Policy (DASAP) which will induce transparent and efficient supply contracting, attract more direct investments in power generation, create greater competition and generation adequacy and thereby defining a firm process policy of specified periodic public international bidding for base load and reserve capacity based on 100% of aggregated projected demand and standardized Power Supply Agreement (PSA) with strong participation and role of the Energy Regulatory Commission to expedite simultaneous approval of the Power Supply Agreement .”

•Resolution to support the implementation of the Philippine Qualifications Framework (PQF) and the ASEAN Qualifications Framework for global competitiveness.

•Resolution to support the K-12 Program of the government thru the Department of Education and the Technical Education and Skills Development Authority (TESDA).

•Resolution for government and business chambers, associations and enterprises to enter into partnerships in the implementation of the National Qualification and Certification System, and thereby ensure the preparation of our human resources with relevant competencies for the world of work.

3.ASEAN INTEGRATION:

•Resolution urging the Government to draw strategies and programs that would promote and support the integration of the small and medium enterprises (SMEs) in the global and regional value chains.

•Resolution urging the Government to come up with a clear program, developed jointly with the private sector, for the promotion and security of Philippine brands in view of the ASEAN.

•Resolution urging the Government to improve the physical connectivity of Mindanao to BIMP-EAGA and the rest of ASEAN.

4.PORT CONGESTION:

•Resolution urging the National Government to decongest Metro Manila, develop the countryside and strengthen provincial and regional economic growth areas to complement, supplement, fortify and sustain Metro Manila’s Economic Growth and Development.

•Resolution urging the relevant government authorities to maximize the utilization of the Subic and Batangas Ports by shifting container traffic and focusing all future port developments thereat.

5.TRAFFIC CONGESTION:

•Resolution urging the National Government, the Metropolitan Manila Development Authority and local governments within Metro Manila to ensure the smooth flow of traffic within the Metropolis, instill discipline among drivers and operators of public utility vehicles (PUVs), promote road use efficiency and safety and driver/operator responsibility by designating and strictly enforcing pick-up and drop-off points for passengers and designating terminals for said PUVs

6.TRANSPORTATION AND INFRASTRUCTURE:

•Resolution urging the prioritization of the full development of the Clark International Airport parallel/twin with the Ninoy Aquino International Airport before other airports.

•Resolution urging the President to revisit the plan to construct C-6 and to complete the construction of C-5.

7.AGRICULTURE:

•Resolution urging the National Government to implement the proper infrastructure and policy directions to ensure food security specifically hastening Agri-Mechanization and modernization to be at par with our ASEAN neighbors especially with the advent of the AEC Integration in 2015.

8.REHABILITATION OF EASTERN VISAYAS:

•Resolution urging President Benigno Simeon Aquino III to start and fast track the completion of the Yolanda rehabilitation and recovery projects in Eastern Visayas.

http://www.mb.com.ph/40th-pbc-submits-8-point-resolutions-to-pnoy/

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Garcia: Subic Freeport ready for more investments

The Subic Bay Freeport Zone is ready to take on more investments that may come into the country following the recent turmoil in neighboring Vietnam and Thailand.

Subic Bay Metropolitan Authority (SBMA) Chairman Roberto Garcia revealed this during a briefing last week at the Subic Bay Yacht Club for members of a trade delegation from Virginia Beach, an independent city in the state of Virginia, which recently forged a sisterhood pact with neighboring Olongapo City.

Garcia shared with the delegates that because of Vietnam’s row with China and the coup d’état in Thailand, many foreign investors are looking into relocating their companies in the country.

He said that the Philippines has earned the trust of investors after it received investment upgrades from different rating firms.

He noted that the Philippines is currently enjoying a BBB rating from Standard and Poor’s, which means that the country has adequate capacity to meet financial commitments, but more subject to adverse economic conditions.

“President Aquino’s program of good governance has generated a lot of trust, and this trust has translated into foreign investments coming into the Philippines,” Garcia told the Virginia trade mission.

“They see that the present economic climate is very different from before,” Garcia added.

The SBMA official also said that the Subic Bay Freeport welcomes this development, since it could mean more investments, as well as jobs that could be generated here.

Virginia Beach councilor James Wood said that he is very impressed with the improvements in the country’s economic standing.

He also noted that Subic and Virginia Beach have a lot of similarities, and a possible collaboration is in the horizon.

“I think there are a lot of possibilities since we are near the Port of Virginia (which is) next to our city and we have a number of container ships similar with what you have here. It is possible,” Wood said.

He added that the new defense agreement between the United States and the Philippines can have a positive effect on the possible partnership between the two ports.

“I think also that because we have a large Navy presence in our place and with the change in our defense treaty, we see a lot of ships arriving,” he added.

The SBMA under Garcia’s helm has boosted its thrust to improve its fiscal situation, approving last year a total of P27 billion in investment pledges and posting a net profit of P1.079 billion, its highest in the agency's entire 21-year history.

Garcia said that the SBMA is looking forward this year to more investments, especially those coming from other Asian economies. (FMD/MPD-SBMA)

PHOTO:
SBMA Chairman Roberto V. Garcia (left) briefs delegates from Virginia Beach on the recent developments in the Subic Bay Freeport Zone. The visitors, headed by Councilor James Wood (near Garcia) and Warren Harris, Virginia Beach director for economic development, arrived under a sisterhood agreement with neighboring Olongapo City.

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BSP conducts Conference on Gearing Up for External Competitiveness in Subic

Bangko Sentral ng Pilipinas (BSP) recently held a Conference on Gearing Up for External Competitiveness in Subic Bay in a bid to prepare the business sector inside and within the peripheries of the Freeport for the Association of Southeast Asian Nations (ASEAN) economic integration come 2015.

Among the topics discussed include key global economic developments and their impact to global growth and Philippine exports; trends, issues and policies concerning foreign exchange rate; strategies for managing foreign exchange risks; BSP regulations on hedging and measures to improve the competitiveness of Filipino exporters; and strengths of selected countries in achieving external competitiveness.

“The upcoming ASEAN Economic Community in 2015 highlights further the need to take serious measures in implementing reforms. The ASEAN markets could provide domestic firms with market opportunities for greater trade and investment,” BSP Deputy Director Tomas Cariño Jr. said.

Carino added that the discussions would help build a stronger macroeconomic and institutional environment, which is crucial in elevating competitiveness in a larger playing field. (CLJD/MJLS-PIA 3)

http://news.pia.gov.ph/index.php?article=2661401670693

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Slowest in ASEAN: Faster internet speed pressed

Senate President Pro Tempore Ralph G. Recto is urging government to also mandate internet service providers (ISPs) and telecom companies to increase the minimum speed of their internet service to 10 Mbps (megabits per second) from the current internet speed of 3.4 Mbps.

Recto said with 3.4 Mbps, the country has the slowest internet speed in South East Asia followed by Indonesia with 4.1 Mbps, Malaysia at 5.5 Mbps, with Singapore as being the fastest in the ASEAN region with a lightning internet speed of 61.0 Mbps.

The global internet speed to download information and pictures from the worldwide web is 18.4 Mpbs.

“Unfortunately, the Philippines ranks at the tail-end of world broadband speed rankings and is also tagged as one of the most expensive,” Recto said.

The Senate leader added: “The national march towards a broader internet or Wi-Fi access should be in cadence with a decent internet speed. Aanhin mo ang Wi-Fi kung puro ka naman antay?”

Recto said Filipino internet users are also paying more than their ASEAN counterparts with a monthly average of $24.92 or roughly P1,120 compared to the fraction spent by other nationalities.

He said his Senate Bill (SB) 2238 dubbed “Bilis Konek Act of 2014” would empower the National Telecommunications Commission (NTC) to require a minimum internet speed for all ISPs and telcos offering internet service of 10 Mbps for mobile broadband/internet access.

The speed should be faster at 20 Mbps when it comes to fixed and fixed wireless broadband/internet access or those installed at home. The transition to a faster internet speed would be two years after the enactment of the law.

“This bill recognizes the importance of high-speed internet connections in increasing productivity and the growing demands for connectivity,” he said, noting that faster internet has correlation to economic growth according to a foreign report.

Recto stressed mandating a minimum internet speed makes sense since the country aside from being the "Texting Capital of the World" was also named by the Global Web Index as having the Fastest Growing Internet Population with a 531% growth in the last five years.

“If the Human Rights Council of the United Nations General Assembly declares internet access as a basic human right, internet users should also have the right to faster internet -- call it internet on steroids,” he said.

Recto has also filed SB 2232, which seeks the roll out of free Wi-Fi access to all public places in the National Capital Region (NCR) as a companion measure to his "Bilis Konek Act."

Recto said an NCR-wide free internet access would provide equal opportunity to all, especially the marginalized members of society and promote efficiency and productivity in businesses.

“Providing free internet access to public buildings and facilities in the national capital will also ensure that our growing labor force will be updated with employment opportunities,” Recto said in filing SB 2232.

He said a free internet access to the public would “mean providing access to the underserved in our society, including getting low-income people online.”

A free Wi-Fi service, according to him, would also give access to vital information available online such as school information for students; traffic reports and alternative routes for motorists; latest weather bulletins, basic goods prices such as oil and gas; and, updates on government services.

Recto said his proposed bill, if enacted into law, would mandate free internet use to the following public areas in the entire NCR:

· All national and local government offices
· Public health services and hospitals
· Public elementary and high schools, and state colleges and universities
· Ninoy Aquino International Airport (Terminals I, II, III and IV)
· Public libraries
· Tollways and expressways
· Epifanio de los Santos Avenue (EDSA) and other national roads
· Public transport terminals
· Port of Manila; and
· Rail transit stations (LRT Line 1, MRT Line 2, MRT Line 3, and PNR south rail).


He assured that once seamlessly in place in Metro Manila, other major cities in the country should be also accorded with free Wi-Fi service.

The Recto bill mandates the Information and Communications Technology Office (ICTO) of the Department of Science and Technology (DOST) as the lead agency. (RBB/SNL)

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Power supply a challenge to investors

Power outages across the Philippines amid shutdowns at electricity plants and increasing summer demand are raising concern the country’s stunted generation capacity will stifle investment and economic growth.

Two of the Philippines’ three main islands are on “Red Alert” after supply fell below peak demand this week as aging facilities shut for repairs and temperatures rise to near 40 degrees Celsius (104 Fahrenheit). Delays in building new plants may slow the expansion of Asia’s second-fastest growing economy, according to Erramon Aboitiz, president of Aboitiz Power Corp., the nation’s second-largest utility.

“It’s time to worry,” Aboitiz said in an interview at the ASEAN Finance Ministers investor seminar in Manila on May 20. “Investors are always forward-looking and when they see projections of a potential power problem, they’ll decide to put their investments somewhere else.”

The strain this summer on power plants highlights how the Philippines’ under-performing electricity sector threatens the country’s economic growth, which is second only to China in the Asia-Pacific. Gross domestic product rose 7.2 percent in 2013 and is poised to remain among the world’s five fastest-expanding until 2016, according to economists surveyed by Bloomberg.

As the economy expands, so has the country’s demand for electricity. Consumption jumped 50 percent in the 10 years to 2012, more than three times the 16 percent growth rate over that same period for the nation’s generating capacity, according to government data.

Some new projects are being delayed because of environmental concerns, such as Aboitiz Power and Manila Electric Co.’s 600-megawatt coal-fired power plant at the Subic Freeport zone north of the capital, which was blocked by a court order. The companies in July 2011 said the first 300 megawatts of the plant will be available by 2014.

“The power crisis is going to be costly,” Ronald Mendoza, executive director of the Asian Institute of Management Policy Center in Manila, said in a telephone interview yesterday. “It will affect manufacturing and services, so there will be implications on production. Investors may scale back or delay investments.”

With peak power demand forecast to grow about 4 percent annually until 2030, the country will need more than 13,000 megawatts of additional capacity, or 80 percent more than what’s installed, according to Department of Energy data. The government estimates that will require 2.8 trillion pesos ($64 billion) of investment. About 1,800 megawatts of new generation has been committed so far.

The central Visayas region, home to the famous beaches of Boracay island, had zero power reserves yesterday. The southern Mindanao region is on a reserve deficit of nearly 100 megawatts, according to data from National Grid Corp. of the Philippines, a transmission company. Mindanao has suffered from outages for years as a third of supply comes from hydroelectric plants that are unreliable during dry season and subsidized electricity prices discourage constructing new plants. Summer temperatures are driving higher air-conditioning use.

The “Red Alert” warning means outages are to be expected in the two regions. On May 16, the Philippine capital Manila and nearby provinces under Manila Electric’s franchise experienced an hour of rotating power outages.

Aboitiz Power may spend about $5 billion building 2,000 megawatts of new capacity in the next five years, adding to its current portfolio of 2,300 megawatts, Aboitiz said in the interview. Profit in the three months ended March fell for the fifth straight quarter, down 9 percent to 4.2 billion pesos after revaluing its dollar loans and power sales declined. (BLOOMBERG)

http://www.mb.com.ph/power-supply-a-challenge-to-investors/

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Korean ambassador, investors visit Subic to promote trade, tourism

A South Korean delegation visited this free port to help promote trade and boost tourism in the two Asian nations under the auspices of the ASEAN-Korea Centre.

Subic Bay Metropolitan Authority (SBMA) Chairman Roberto Garcia welcomed the Korean delegates headed by Ambassador Hae Moon Chung during a business-to-business networking last Friday at the Subic Gateway Park here.

The event provided a venue for business discussions between the Korean businessmen and investors located at the Subic Bay Freeport.

In a meeting with Garcia, Chung explained that the ASEAN-Korea Centre serves as the de facto chamber of commerce and tourism center for ASEAN-member countries in Seoul.

He said that the center is active in conducting business-to-business networking and investment seminars for ASEAN countries.

He then invited Garcia to visit the center in Korea in order to promote tourism and invite interested investors to Subic.

Chung also noted the well-maintained facilities and structures left by the US Navy at the former naval base here, saying it was like stepping into another page of history.

Meanwhile, Atty. Ruel John Kabigting, officer in charge of the SBMA Business and Investment Group, said that the Korean group’s visit will encourage and motivate the people from the SBMA to do their job better.

“This is indicative of (the Koreans’) continuing trust and commitment to the Philippines in exploring business possibilities for our mutual benefit,” Kabigting said.

He also noted that South Korea is a major trading parter of the Philippines and both governments have established bilateral agreements. South Korea also generated the highest number of tourist arrivals in the Philippines in recent years, with more than half a million visitors arriving in 2010.

According to Ronnie Yambao, SBMA manager for Manufacturing and Maritime Business Development, the business-to-business networking is a platform utilized by several investment promotion agencies to promote their respective investment promotion areas, and SBMA is highly supportive of this initiative.

Yambao also said that the SBMA continues to provide avenues and areas of cooperation between Korean investors and Subic business locators for them to explore business opportunities wherein they can be profitable and continue to forge different areas of cooperation.

The business-to-business networking was organized by the Philippine Trade and Investment Center and the ASEAN-Korea Centre. (FMD/MPD-SBMA)

PHOTO:
SBMA Chairman and Administrator Roberto V. Garcia meets with Korean Ambassador Hae Moon Chung during the latter’s visit to the Subic Bay Freeport last week. Chung, who is also Secretary-General of the ASEAN-Korea Center, urged the SBMA and Subic investors to visit Korea to promote local tourism and invite investors to locate in Subic.

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