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Subic investments

By Cecille Garcia | Posted on Jul. 15, 2013 at 12:00am | manilastandardtoday.com ]
SUBIC BAY Freeport—Investment pledges approved by the Subic Bay Metropolitan Authority in the first half jumped 1,215 percent year-on-year, led by the expansion of existing projects.
SBMA chairman and administrator Roberto Garcia said committed investments in the first half reached $575.33 million, up from $43.86 million recorded during the same period last year.
“Despite a drop of 55 percent in the number of new investment projects in the Freeport for the first half of the year, compared to [the first half of] last year, bigger investments have been signed up this year,” Garcia said.
Data from the SBMA business and investment group showed the top five investors in the January-June period were Korean leisure property developer Resom Resort Philippines Inc., FFC Subic Seafood Corp., Johanna-Subic Seafood Corp., Simon and Stanley International Trading and Development Corp. Inc. and Subic Bay View Development Corp.
The combined committed investments of these five projects amounted to $554 million, or 96 percent of the total amount pledged for the six-month period.
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