03 July 2012

Taiwanese trade mission visits Subic Bay Freeport

Officials representing some of the biggest manufacturing companies in Taiwan visited this free-port zone on Tuesday in a trade and investment mission that scouted for possible business projects here.

The delegates were led by Terry Lee, director-general of Taiwan’s Ministry of Economic Affairs, who said the mission was composed of the representatives of 66 of the biggest manufacturers in Taiwan today.

Officials of the Subic Bay Metropolitan Authority (SBMA) and the Subic Bay Development and Management Center (SBDMC), which operates the Taiwanese-controlled industrial hub Subic Gateway Park here, welcomed the delegates and briefed them on business opportunities here.

SBMA chairman and administrator Roberto Garcia said in his address to the mission that their visit was very timely, as it is now the perfect time to visit the Philippines for investments.

“As you know, in the first quarter of this year the Philippines has achieved the highest GDP (gross domestic product) growth rate of 6.4 percent, which was second only to China. This kind of growth was previously unheard of in this country,” he said.

Garcia also pointed out that the Subic Bay Freeport is specially attracting more foreign investors, as the Philippines continues being one of the rising economies in Asia.

“I think the Philippines is now on the radar screen of the foreign investors. We have many investors visiting us here in Subic — from China, Taiwan, Korea, Japan, and the United States. There is so much interest in investing in the Philippines now,” he said.

The SBMA official also expressed optimism that the economic and social ties between the Philippines and Taiwan will continue to prosper further.

“We have a very long historical relationship with Taiwan,” Garcia said. “This park was established in 1998, so we have a long history of good and close economic ties with the Taiwanese and we would like to continue that,” he added.

Also present during the meeting were Jeff Lin, president of SBDMC; Clement Yang, chairman of Universal Joint International Corporation; Deogracias Custodio, chaiman and administrator of the Authority of the Freeport Area of Bataan (AFAB); and Ed Zamora, vice president for marketing of the Hermosa Ecozone Development Corporation. (FMD/MPD-SBMA))

SBMA Chairman Roberto V. Garcia briefs members of the Taiwanese trade and investment mission on business opportunities at the Subic Bay Freeport. Also in photo areTerry Lee (left), director-general of Taiwan’s Ministry of Economic Affairs, and Clement Yang, chairman of Universal Joint International Corporation.