More logistics firms lured to invest in Subic Bay

December 6, 2017 - 7:31 PM

OLONGAPO CITY, Philippines – Subic Bay International Terminal Corp. (SBITC) is looking forward to the entry of more logistics investors in the free port since the freeport management waived accreditation fees for opening businesses in the Subic Bay Freeport Zone, and is confident such will help turn Subic into one of the most competitive logistics centers in Southeast Asia.

The waiver is part of the ten-point agenda of Atty. Wilma Eisma, chairperson of the Subic Bay Metropolitan Authority, to innovate Subic as a flourishing trading hub in the region by attracting, with lower costs, new firms to invest in Subic.

The recent waiver of the $200 accreditation fee for the first new 80 business entrants and the first 20 accredited entities is expected to attract even more logistics firms to consider the Subic Freeport Area as the best alternative to the already congested ports in Manila.

SBMA chair Atty. Eisma said that the free accreditation is aimed to increase awareness of the world-class facilities available in Subic Bay container terminals.

“Clearly, Atty. Eisma is on the right track in promoting Subic Bay as the port that works for everyone. SBMA gives opportunity for business access to logistics all over the country. ” said Roberto R. Locsin, SBITC general manager. “This waiver is a hard to ignore opportunity for the private sector to invest in Subic port,” added Locsin.

Just recently, the Subic Bay Freeport Zone was recognized by the London-based International Finance Management as the “Fastest Growing Free Trade Zone” in Asia. The award recognizes Subic Bay as one of the most potent port and logistics hub in Asia with the highest standard of excellence and performance.

SBITC, an ICTSI company, is a leader in global port management due to its fast, reliable, and cost-efficient system implemented to its ports in the Subic Freeport Area. The company manages the New Container Compound Terminals 1 and 2 as part of SBMA’s port development master plan to make Subic the premier trading hub in Southeast Asia.