27 May 2010

Taiwanese investors keen on keeping Subic — SBMA

There is no mass pull-out of Taiwanese firms in Subic because most of them are content with doing business here, the Subic Bay Metropolitan Authority (SBMA) assured Thursday.

“We strongly believe that Taiwanese businessmen here are complacent with the working conditions.

They have also given us the assurance that they are not prepared to relocate to China,” SBMA Administrator Armand Arreza said.

Arreza issued the statement to dispute a prediction made by an official of the National Economic and Development Authority (NEDA) that Taiwanese firms based in Subic are preparing to leave this premier freeport.

Recently, NEDA Director General Augusto Santos said most of the Taiwanese investors that are located inside the Subic Bay Freeport will relocate to China once Taiwan and China signs a proposed framework trade deal.

The imminent deal, Santos added, would leave thousands of Filipinos working inside the Subic Bay Freeport Zone unemployed.

But Subic Bay Development Management Corp. (SBDMC) President Jeff Lin also refuted the claim, asying that Subic Freeport is one of the most sought-after economic zones in the Asian market for Taiwanese. (Jonas Reyes, Manila Bulletin)