SBMA releases P150.5-M revenue shares to neighboring LGUs

The Subic Bay Metropolitan Authority (SBMA) has released a total of P150.5 million in revenue shares for the second semester of 2016 to eight local government units adjacent to the Freeport.

SBMA Administrator Atty. Wilma Eisma said the total revenue shares for the second semester of 2016 distributed among eight LGUs is 6.4% higher than the P141.4 million of first semester of 2015; and 30.6% higher than the P115.23 million for the second semester of 2015.

“We are proud to turnover to you the result of the hard work of our SBMA workers who made everything possible for the agency they serve as we continue to attract more investors and create more jobs,” Eisma told the local officials.

Municipal and city executives who attended the LGU share turnover ceremony held at the SBMA Boardroom include Vice Mayor Jong Cortez (Olongapo City), Mayor Joseph Inton (Hermosa, Bataan); and from Zambales were Mayors Jefferson Khonghun (Subic), Dr. Estela Antipolo (San Antonio), Jose Angelo Dominguez (Castillejos) and Elvis Soria (San Marcelino).

Dinalupihan and Morong in Bataan were represented by each of its respective treasurers.

The shares handed over to LGUs were derived from the five per cent (5%) of gross revenue taxes paid to SBMA by locators and investors operating inside Subic Freeport.

From the five percent GRT, three per cent goes to the national treasury, while the two per cent (2%) were distributed by SBMA among the eight LGUs.

The share each LGU receives is based on the following criteria: population (50%), land area (25%), and equal sharing (25%).

Based on SBMA records, this semester, Olongapo City remains the highest recipient of the revenue share with P35.1 million, followed by the municipality of Subic with P22.96 million and Dinalupihan with P18.73 million.

Other municipalities were San Marcelino, P18.05M; Hermosa, P15.65M; Castillejos, P14M; Morong, P13.07M, and San Antonio, P12.92M.

The revenue shares are to be used to finance community development projects including those for health, education, peace and order, as well as livelihood programs to enable communities near the Subic Bay Freeport to keep pace with the developments in the special economic zone.

In response, Hermosa Mayor Inton thanked the SBMA for its continuous effort in improving the investment climate in the Freeport which generates employment opportunities for the residents.

“These revenue shares will be used for improving the basic services the local government units are providing for their constituents, since these services were already devolved in the discretion of the LGUs such as health, education and peace and order,” he said.

Meanwhile, Eisma urged LGU officials to start looking for possible areas to be developed as industrial parks as the SBMA eyes to extend the fenced areas of the Freeport to its neighboring communities to meet the land area requirements of new investors.

“We need more lands to be developed as industrial parks for our new investors. We should start making our master plan now. Currently, Subic Freeport has not enough land it could offer to new investors,” she said, adding that the SBMA is willing to help on the technical side of the planning.

She noted that the soonest these industrial parks are created, the SBMA would be able to accept big investment proposals, and would mean more jobs and bigger LGU shares. (RAV/MPD-SBMA)

PHOTO:
Subic Bay Metropolitan Authority (SBMA) Administrator Wilma Eisma (7th from left) meets with officials of the neighboring local government units (LGUs) of the Subic Bay Freeport during the turnover ceremony of their revenue shares. Also present during the said event were members of the SBMA Board of Directors. (AMD/MPD-SBMA)

Read More

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)

Read More

New SBMA investments reach P111.5 B in Jan-Sept

The Subic Bay Metropolitan Authority (SBMA) has approved P111.5 billion in new investments in the first nine months of the year.

These new investments are expected to create more than 55,000 new jobs.

Read more here: http://www.philstar.com/business/2016/11/11/1642430/new-sbma-investments-reach-p111.5-b-jan-sept

Read More

Subic investments reach a record PHP111.5 billion in Jan.-Aug. 2016

The Subic Bay Metropolitan Authority recently announced the inflow of PHP111.5 billion into this Freeport in the form of newly approved investment projects in just the first seven months of 2016.

This represents the highest approved investments ever for the same span of time since the Subic Freeport’s establishment in 1992. The record-breaking performance also surpasses the Freeport’s total new investments of PHP18.5 billion in 2015 by more than 500 percent, and its 2012-2015’s total of PHP 47.9 billion by 132.77 percent.

So far, the biggest investment in Subic this year came from Australasia Cold Storage Logistics and AIA Airways Company, Inc. with a committed investment of PHP70.5 billion.

The logistics investment project will involve transporting agricultural products from Australia, mostly meat and seafood; repacking them in Subic; and then flying or shipping them out to customers worldwide. Also included in the project are the putting up an intermodal cargo terminal and the use of both airport and seaport with an expected turnout of around 60 containers a month for the Subic Port.

Another significant new investment is the solar and industrial estate project of Dynamic Konstruk Enterprises with an investment pledge of PHP34 billion and a projected employment of 40,000-50,000. The proposed industrial estate project will include the development of a 200-megawatt solar plant, the construction of warehouses and logistics facilities, and the establishment of factories in a 400-hectare area in the Redondo Peninsula near the site of the Hanjin shipyard.

Once on stream, the two new projects and other approved new investments are expected to generate a total of 54,973 new jobs in the Freeport, which traditionally sources the manpower requirements of its locators from Olongapo, Bataan, and Zambales; as well as from Pampanga, Tarlac, NCR, and other areas. (AMF/CorCom-SBMA)

Read More