The Subic Bay Metropolitan Authority (SBMA) unveiled its future-proofing business plan to attract $12 billion in investments and host 2,000 locators within the Freeport Zone by 2028.
The ambitious growth plan is expected to increase the workforce inside the Subic Bay Freeport by 200,000 and boost export value to $3 billion, while contributing P6 billion in dividends to the national government.
SBMA chairman and administrator Eduardo Jose Alino said the plan is underpinned by a series of infrastructure projects and initiatives designed to enhance the region’s competitiveness and attractiveness to investors.
These include the construction of new multi-purpose port terminals at Lower Mau with investments of P13 billion and the Redondo Peninsula with investments of P11 billion, aimed at enhancing the region’s capacity to handle cargo and facilitate trade.
A P224-million state-of-the-art traffic management system is also being implemented to improve road safety and efficiency. The Subic Bay International Airport is undergoing a major facelift, with an estimated capital expenditure of P7.02 billion to expand facilities to accommodate increased passenger traffic.
The SBMA said it is also committed to sustainability, with a flagship project to establish the country’s first Shore Power Connection for Carbon Neutral Ports that would significantly reduce air pollution from ships and in support of the UN Sustainable Development Goals.
The SBMA is also investing P960 million in housing and dormitories for workers. The P21.15-million Center for Excellence is being built to provide technical education and skills development, further strengthening the workforce’s capabilities.
It said that beyond 2028, it has plans for further expansion of the Subic Bay International Airport that will cost P33.6 billion and the construction of a bridge connecting the Freeport to Redondo Peninsula.
Another significant project is the two-phase P10.1 billion Subic Bay Cruise Ship Project which will involve the construction of a double berth 380-meter pier and the reclamation of 20 hectares where a cruise passenger terminal will be constructed.
The projects are expected to boost the Freeport’s position as a major economic hub in the region and a key contributor to the Philippines’ economic growth, it said.
