12 September 2008

To meet investment goal, SBMA wants IT parks in Subic

The Subic Bay Metropolitan Authority, aiming to attract a total of $7.5 billion in investments by 2010, is promoting development of information technology (IT) parks in the Subic Bay Freeport, northwest of Manila, SBMA administrator and chief executive Armand Arreza said.

"So far, investments in the free port have reached $5.7 billion, he said. In the first half of 2008, Subic attracted $212 million in investment pledges," he added.

"Subic's port, shipyard and logistics facilities are well known but Subic is not yet known as an IT hub," Arreza said. "It would be very good for us to also establish presence in this area."

Arreza said the SBMA was negotiating with a Taiwanese group and a Dubai-based group that could each develop an IT park in Subic.

"The Taiwanese group is more interested in digital content and biotechnology, while the Dubai group is considering developing space for outsourcing companies, maybe call centers," he said.

The two IT parks would entail about $40 million in investments, of which about $15 million would go to land development, he said.

About 19 hectares of land has been allocated for IT park development at Subic, he said.

The SBMA will host an ICT forum in November, he added. (Riza T. Olchondra - Philippine Daily Inquirer)