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Subic freeport explored for future Aussie investments

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SBMA chairman and administrator Rolen C. Paulino welcomes the delegates and guests of the Pacific Business Mission from Australia and New Zealand during their visit in Subic Bay Freeport.

SUBIC BAY FREEPORT — This premier Freeport was recently among the sites
considered for exploration by the delegates of the Pacific Business Mission for its
future investments.

The Philippine Trade and Investment Center (PTIC) of Australia/New Zealand, in
partnership with the Subic-Clark Alliance Development Council (SCADC) and the
Board of Investments (BOI) accompanied Australian businesspersons to visit key
viable investment sites in the Central Luzon area including this freeport.

Headed by Philippine Ambassador to Australia Ma. Hellen De La Vega, the
delegation also visited Clark Freeport Zone, Mt. Samat Flagship Tourism
Enterprise Zone, and the Province of Bataan before proceeding to Subic Bay.
The group was said to have expressed interest in possible investment projects
related to tourism, automotive and electric vehicle manufacturing, agribusiness,
and renewable energy.

The Subic Bay Metropolitan Authority led by chairman and administrator Rolen C.
Paulino received the delegates with a warm welcome at the Subic Bay Travelers
Hotel in a luncheon briefing.

“As the global economy is struggling to bounce back from the negative effects of
Covid-19 pandemic, we are glad to have this opportunity to participate in this
investment mission and introduce or re-introduce the Subic Bay Freeport and
Economic Zone to you,” Paulino said.

He encouraged the business delegates to make it happen in the Philippines,
especially in Subic Bay, that the entire SBF community is looking forward “with
much enthusiasm to work in partnership with all of you for the growth and
progress of the Philippine economy, in general, and in the Subic Bay Freeport
community, in particular.”

During the program, SBMA Business and Investment for Manufacturing and
Maritime department manager Karen Magno gave the group a briefing on the
business climate in the Freeport on behalf of senior deputy administrator for
business and investment Renato Lee III.
“We strive very, very hard to keep the confidence of our investors and maintain
this site as an ideal site for investment. This is because of our core Filipino value
we call ‘malasakit.’ Malasakit is the deepest form of caring. Malasakit to our
stakeholders, malasakit to Subic, which we call home,” Magno said.

She added that because of malasakit, the business group, through the SBMA
board of directors, was able to complete the processing of 63 new investments
during the height of the pandemic in order to sustain the economy in the
Freeport.

The said new projects with a committed investment worth $24 billion required
additional 682 employment opportunities for the residents of Olongapo, Bataan
and Zambales areas.

Currently, the SBF houses 28 Australian locators with a committed investments
totaling to $11 million and an employment of 577 workers.

Hugh McDougall, president and CEO of Australia Farm Innovation, and Nick
Fenwick, president and COO of Fabric8 Membrane Services, and both Australian
locators in the Freeport, attested to the warm and professional reception of
SBMA personnel, skilled and English-speaking workers, and the fast, friendly, and
flexible services that the SBMA has been extending them.

Australia Farm Innovation is the leading Philippine supplier of innovative and high
quality prefabricated agricultural buildings and equipment, while Fabric8
Membrane Services is a company that specializes in contract fabrication of textile
materials used in major projects globally.

Meanwhile, SBMA deputy administrator for business group Atty. John Aquino
acknowledged the effort of the PTIC, SCADC, BOI and all the Investment
Promotion Agencies as the Philippine Statistics Office recently announced that the
foreign direct investments (FDIs) reached ₱46 billion for the second quarter of
this year alone.

Aquino proudly said that 71.34 percent of the said FDIs, or ₱32.98 billion were
approved by the SBMA.

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