[ Manila Bulletin Online ] May 6, 2008
By ANA MARIE MACUJA
Subic Bay Metropolitan Authority (SBMA) received last week investment commitments from 17 new investors, translating to over $ 34 million in additional investments and 578 new jobs at the freeport.
Topping the list of new investors in terms of committed investments are Subic Daesung Corp., which will invest some $ 15 million to put up a mixed-use commercial complex, and Subic Enerzone, with $ 10.4 million.
Also investing in Subic’s tourism industry are Palmgold International, Ltd., which committed $ 1.94 million for the operation of a slot machine arcade; Cook Group and Pacific Associates, Inc., with $ 1.4 million for the establishment of a youth camp and recreation facilities; and Global Dongsan Phils. Inc., with $ 1.097 million for the construction and management of a commercial building.
Other investors that signed up recently include CEI Worldwide, Inc. ($ 2.35 million), Spoint Corp. ($ 50,000), Subickor Corp. ($ 50,000), HCM Marine Corp. ($ 50,000), Builenc Phils. Co. Ltd. Corp. ($ 391,198), Dong Yang Food Machinery Phils. Corp. ($ 468,000), EOS Sutro Technology Subic, Inc. ($ 221,951), Rayshine Photonics Phils. Corp. ($ 100,000), Ringsthree Inc. ($ 220,000), Bike Boutique ($ 300,000), Buma Subic ($ 36,585), and PhilKor Utopia ($ 37,500).
"This is a very good sign for us, because this means that the Subic Freeport is an ideal investment site for all sizes of corporations and investors," SBMA chairman Feliciano Salonga said.
"We hope that more small, medium, and semi-large companies will come and invest in Subic because this is a good place for all sizes of investments," Salonga said, adding that large investors, such as Hanjin Heavy Industries Corp. Philippines, are not being favored by the government.
He stressed Hanjin was treated just like any other investor and that while the company had special requirements, no shortcuts were done to ensure the interest of government and the country is protected.
South Korean giant Hanjin Heavy Industries has set up a $ 1.7-billion shipyard project at the freeport.
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