Subic workforce rises to 112,653 due to increased investments

SUBIC BAY FREEPORT-- The Subic Bay Metropolitan Authority (SBMA) said the number of workforce in this Freeport has risen to 112,653 as a result of the increase in the number of investments.

SBMA Administrator Wilma Amy T. Eisma said that more job opportunities were created due to the 1,536 companies currently investing in this freeport -- a significant 12.76 percent higher compared to 1,340 companies in 2015.

Eisma also said there are 1,093 new accounts that are now being processed by the SBMA.

She 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.

Eisma cited one of the main reasons companies chose to invest in Subic Bay Freeport Zone is that the area is accessible by land, air and sea, which she pointed out 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, Eisma said, is the unrestricted entry of foreign investments.

She also cited some factors why investors have focused their businesses here.

She said 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," she added. (PNA)

Source: Philippines News Agency

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