The Freeport zones of Subic Bay, Zambales and Clark, Pampanga together contributed 11% of the country’s gross domestic product (GDP) in 2014.
“Clark’s and Subic’s combined export value last year of US$6 billion is very significant to the gross regional domestic product (GRDP), which contributed 11 percent to our GDP,” Subic Bay Metropolitan Authority (SBMA) acting deputy administrator for business group Ronnie Yambao said in a report.
For Subic, Yambao said among the major growth contributors to the zone is South Korean shipbuilder Hanjin Heavy Industries Corp, which employs 29,000 direct workers.
“For this year, Hanjin is projecting to complete at least 17 ships worth over US$1.6 billion. This would mean hiring additional workers,” Yambao said. Recently, Hanjin inaugurated the first Philippine-made liquefied petroleum gas carrier built at its Subic facility.
Yambao also identified five new investment projects for approval by the SBMA Board of Directors this year. These include Harbor Star Subic Corp, which is proposing a $4.5-million investment in marine-related ancillary service operations, such as harbor assist, towage, oil spill and underwater services.
Another project, Nanofixit Ventures Inc., will open a $5.32-million rebottling and packaging company for a water-based liquid screen protector, while Subic Superfood Inc. will infuse $920,000 in a food processing plant that will use pili nuts from the Bicol Region as well as Himalayan salt in the manufacture of so-called “super foods.”
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