SUBIC BAY FREEPORT – Continued confidence by foreign investors, particularly Korean companies, in the business competitiveness of the Subic Bay Freeport will help double the number of workers here in just two years..
Officials of the Subic Bay Metropolitan Authority (SBMA) said more than 85,200 workers are now employed by various companies in Subic today.
“But this could easily jump to double the current figure once projects proposed by several Korean firms are realized in the next two years,” said SBMA administrator Armand Arreza.
Arreza cited in particular the planned construction of a $1-billion resort complex here by M Castle Inc., a Korean developer of environment-friendly luxury resorts, and the scheduled $86-million project by Hanjin Heavy Industries and Construction Corp. to locally produce ship components.
“These will be major employment-boosters,” Arreza said. “Aside from the jobs that would be directly created by these projects, there will be thousands of employment opportunities to be generated downstream.”
Reports indicated earlier that M Castle Inc. will invest in a 615-hectareproperty in Subic, aside from another property development project in Palawan to be undertaken with the Philippine Economic Zone Authority (PEZA).
Around 7,000 direct and 16,000 indirect jobs are said to be made available when the construction of the billion-dollar luxury resort starts, according to M Castle chairman Sang Soo Shin.
Arreza said the planned investment “would not only boost the tourism market in the country, but would also up the ante for Subic in terms of income.”
The M Castle proposal reportedly includes the development of beach and forest condominiums, a beach hotel, a casino-hotel and villas with 2,400 rooms, a 36-hole golf course, a marina club for 50 yachts, a medical center for oriental and western medicine, a water park, a shopping mall, and an English-language learning house.
Aside from the planned resort complex in Subic, Arreza said the local production by Hanjin of ship components will increase Subic’s active workforce by 4,000 positions.
He said the projected increase in Hanjin labor requirements was announced by company officials when they met with President Gloria Macapagal-Arroyo in Korea recently.
Arreza said the Korean shipbuilder is already the biggest single employer in the Subic Bay Freeport with its current employment of 16,000.
“We’re really optimistic that these major Korean investment projects would push through so that we may further increase the number of workers that benefit from the economic growth in Subic,” the SBMA official said.
Prior to this, the SBMA urged the development of areas suitable for more investment projects in the Subic-Clark growth corridor.
Arreza said that if these areas were developed, the SBMA would be able to create some 150,000 new jobs out of its planned expansion program.
The expansion plan, Arreza said, would also cover parts of the neighboring communities of Olongapo City, Subic in Zambales, and Morong and Hermosa in Bataan.
Officials of the Subic Bay Metropolitan Authority (SBMA) said more than 85,200 workers are now employed by various companies in Subic today.
“But this could easily jump to double the current figure once projects proposed by several Korean firms are realized in the next two years,” said SBMA administrator Armand Arreza.
Arreza cited in particular the planned construction of a $1-billion resort complex here by M Castle Inc., a Korean developer of environment-friendly luxury resorts, and the scheduled $86-million project by Hanjin Heavy Industries and Construction Corp. to locally produce ship components.
“These will be major employment-boosters,” Arreza said. “Aside from the jobs that would be directly created by these projects, there will be thousands of employment opportunities to be generated downstream.”
Reports indicated earlier that M Castle Inc. will invest in a 615-hectareproperty in Subic, aside from another property development project in Palawan to be undertaken with the Philippine Economic Zone Authority (PEZA).
Around 7,000 direct and 16,000 indirect jobs are said to be made available when the construction of the billion-dollar luxury resort starts, according to M Castle chairman Sang Soo Shin.
Arreza said the planned investment “would not only boost the tourism market in the country, but would also up the ante for Subic in terms of income.”
The M Castle proposal reportedly includes the development of beach and forest condominiums, a beach hotel, a casino-hotel and villas with 2,400 rooms, a 36-hole golf course, a marina club for 50 yachts, a medical center for oriental and western medicine, a water park, a shopping mall, and an English-language learning house.
Aside from the planned resort complex in Subic, Arreza said the local production by Hanjin of ship components will increase Subic’s active workforce by 4,000 positions.
He said the projected increase in Hanjin labor requirements was announced by company officials when they met with President Gloria Macapagal-Arroyo in Korea recently.
Arreza said the Korean shipbuilder is already the biggest single employer in the Subic Bay Freeport with its current employment of 16,000.
“We’re really optimistic that these major Korean investment projects would push through so that we may further increase the number of workers that benefit from the economic growth in Subic,” the SBMA official said.
Prior to this, the SBMA urged the development of areas suitable for more investment projects in the Subic-Clark growth corridor.
Arreza said that if these areas were developed, the SBMA would be able to create some 150,000 new jobs out of its planned expansion program.
The expansion plan, Arreza said, would also cover parts of the neighboring communities of Olongapo City, Subic in Zambales, and Morong and Hermosa in Bataan.
