Investments OK’d in SBMA hit P2.85B in first semester of 2018

SUBIC BAY FREEPORT— Investments approved in the Subic Bay Metropolitan Authority (SBMA) reached P2.85 billion in the first semester of 2018, surpassing the P731 million recorded in the same period last year, SBMA chair and administrator Wilma Eisma disclosed Monday.

This year’s investment pledges were 45 new projects that would generate around 2,439 jobs, proving that “this free port remains to be one of the strongest economic drivers in the country today,” Eisma noted.

SBMA said 13 Subic locators have proposed expansion projects in the first 6 months, which is worth P276 million and are projected to generate 286 new jobs.

The biggest project signed by SBMA was by Citic Hotels and Leisures Corporation with a proposal amount of P1.34 billion, followed by Air Juan Aviation for the P671.47 million-operation of air transportation services and charter passenger flights to various points in the country, said Kenneth Rementilla, SBMA deputy administrator for business and investment.

SBMA hosts 1,596 business locators that employ a total workforce of 133,940 people. /kga