21 February 2017

Increase in Subic Freeport investments push workforce to 112,653

The Subic Bay Metropolitan Authority (SBMA) revealed that an increase in the number of investments inside this premier Freeport has led to the increase of job opportunities for Filipinos as the current number of the workforce here rose to 112,653.

SBMA Administrator Atty. Wilma Amy T. Eisma said that the 112,653 total active workers inside the Freeport shows a significant increase of 11 percent from 2015 due to a 12.76 percent increase in the number of locators.

A welder works at the Hanjin Shipyard, one of the top employers in Subic Bay Freeport (AMD/MPD-SBMA)

Currently, the Subic Bay Freeport has 1,536 companies investing compared to 1,340 companies that were recorded in 2015. Eisma said there are 1,093 new accounts that are now being processed by the SBMA.

Eisma commended the top five employers of the SBMA, namely: Hanjin Heavy Industries and Construction-Philippines with 33,296 employees; Nidec Subic Phils Corp. with 5,240 employees; Sanyo Denki Phils. Inc. with 4,011; Tong Lung Phils Metal Industry Co. Inc. with 2,900; and Nicera Phils Inc. with 2,294.

The administrator said one of the main reasons why companies chose to invest in Subic Bay Freeport Zone is that the area is accessible by land, air and sea, pointing out that it is conducive to both tourists and the movement of goods. Eisma added that the Freeport has a high quality of air and ambience since it is gifted with natural resources, mountains, and water and nature parks.

“We also pride ourselves with the safety and security provided by our law enforcers here. The Freeport has gated entry and exit points,” she said, adding that there are zoning guidelines and restrictions that are strictly enforced.

The Freeport is also an area that has tax incentives and duty-free importation of raw materials and capital equipment. Along with these is the unrestricted entry of foreign investments,” Eisma said.

But aside from being chosen as an area to invest, Eisma also pointed out that there are many reasons why investors have focused their businesses here. She pointed out that the area is profitable for business, share values were increased, there is low business risk, capital expenditure is in place, the quality of life inside the Freeport is high and there is ease of doing business here.

“These factors are what we should maintain to provide investors the much needed help they deserve while providing employment to our fellow countrymen,” Eisma said. (JRR/MPD-SBMA)