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Subic Freeport records $5.925-B investment in 17 years

Subic Freeport records $5.925-B investment in 17 years

SUBIC BAY Freeport: Setting aside the limelight in favor for the 21st ad congress and opting to celebrate its 17th year anniversary in silence, the Subic Bay Metropolitan Authority announced yesterday that it had recorded $5.925 billion committed investments since it started operating the Freeport in 1992.
In a statement the agency said that in today’s exchange rate, that amount is equivalent to P276.79 billion, or an average of P16.28 billion each year in investment pledges recorded in the past 17 years.

“Our track record speaks for itself,” said SBMA chairman Feliciano Salonga.
“While the past year or so has been a difficult time, Subic has never wavered in its pursuit of more investments and continued its dogged pursuit of new investment niches,” Salonga asserted.

Salonga also attributed Subic’s continuing resiliency “to the faith of investors in the growing competitiveness of the Subic Bay Freeport.”
SBMA administrator Armand Arreza said that Subic has continued to defied the odds with positive performance in terms of investments generation, job creation despite the global economic slowdown last year.
Investments pour in
Arreza pointed out that despite growing economic uncertainties in the first quarter of 2009, the SBMA managed to squeeze in a total of $31.72 million in new investments even as major economies suffered major income reversals.

Thereafter, Subic followed it up with $60.46 million in the second quarter, $41.12 million in the third quarter, and $26.45 million from October to the first half of November.

Jobs
“The continuing entry of investors also revved up employment generation, so that as of September Subic had a total active workforce of 86,229. This represents an increase of 3.36 percent over the September 2008 figure of 83,428, and that’s despite the recession that affected quite a number of companies here,” he added.

Arreza said most of the Subic firms affected by the downturn had since recovered, while other companies, fueled by the resurgence of the electronics sector, “have been, in fact, undertaking expansion projects.”

Salonga-Arreza tandem
According to SBMA data, most of the investments recorded in the Subic Bay Freeport Zone have been generated under the Salonga-Arreza administration that began in September 2005.

The total investment commitments generated in this period amounted to $3.55 billion, or more than 52 percent of the cumulative amount.

Subic’s biggest year-on-year investment was made in 2007 when a total of $1.71 billion was approved by the SBMA. In 2006, Hanjin pledged its initial $1-billion commitment for its shipyard project, cranking Subic’s investment generation that year to a total of $1.44 billion.

Arreza said that in the next few years, the SBMA will be focusing on projects that would expand the physical boundaries of the Subic Bay Freeport and allow the SBMA to generate more investments.

“This will be the new mission for the SBMA,” Arreza said. “We have already exceeded by more than four times the number of jobs lost in Subic when the U.S. Navy left in 1992. Now we’re looking at bringing development outside of the free port, to the communities that have helped nurture the Subic dream since 1992.”

http://subictimes.com/latest-news.php?nid=326

As Manila becomes more congested and pollution becomes frustratingly intolerable, many families opt to spend a few quality nights and relax in this hotel in Angeles City Clark Pampanga. It is fair to say that YATS Clearwater Resort and Country Club is known for its faithful rendition of the American suburban lifestyle, all there for the enjoyment of all ages and all members of the family.

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Or call us at

Hotel Clark Philippines
Creekside Road corner of Centennial Road,
Central Business District, Clark Freeport Zone,
Pampanga, Philippines 2023

Tel: (045)599-5949 0917-520-4403 0922-870-5177

Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 Rea or Chay

http://www.HotelClarkPhilippines.com

Email: Info@ClarkPhilippines.com

Getting to this hotel in Clark Philippines
After entering Clark Freeport from Subic, Manila, Dau and Angeles City, proceed straight along Clark’s main highway MA Roxas, passing Clark’s largest wine shop called Clark Wine Center on your right, continue to bear right making no turns at all, go past Mimosa Leisure Estate on the opposite side of the road, you will hit a major intersection. Go straight and the road becomes Creekside Road. YATS Clearwater Resort and Country Club is on your right just 200m down. Traffic in Clark Philippines is light so it should be quite easy for get to this hotel in Clark Philippines.

YATS Leisure Philippines is a HK-based developer and operator of clubs, resorts and high-class restaurants and wine outlets http://www.YatsLeisure.com

To inquire with the beach resort hotel in Clark Pampanga visit http://www.ClearwaterPhililippines.com

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Clearwater Resort and Country Club is one of the ideal venues for birthday party because it is a risk free venue. Not only Birthday Parties but also a good place to enjoy family reunion. A good place to celebrate special occasions. Clearwater Resort and Country Club is one of the resorts in Subic Clark Angeles City Pampanga or near Manila with activity amenities, place that are nice for celebration.