SUBIC BAY FREE PORT—Propelled by what they call “Pusong-Pinoy,” or being Filipino at heart, entrepreneurs belonging to the Federation of Philippine-American Chambers of Commerce (FPACC) met with their local counterparts here on Monday to develop trade networks and explore investment opportunities in this free port.
Gus Mercado, head of mission and executive director of FPACC, said the businessmen were looking for investments in real estate, eco-tourism, manufacturing, light-industrial machinery and retirement facility.
“The majority of us here were born in the Philippines, and we have what they call pusong Pinoy,” Mercado said.
“The non-Filipino members of the delegation will understand why although we’ve been away for so long, we still have Pusong Pinoy. Deep in our hearts, we are still Filipinos,” Mercado added.
Mercado and 64 other members of the FPACC delegation arrived here for the Luzon leg of the eight-day US Trade and Investment Mission to the Philippines, which also highlighted the group’s attendance to the 40th Philippine Business Conference in Manila.
The trade mission, scheduled from October 17 to 24, aims to bridge and facilitate business and cultural ties between business people through the Philippine-American chamber network.
Judith Angeles, officer in charge of the Department of Trade and Industry’s (DTI) office in Central Luzon, said the Luzon leg held from October 19 to 22 was organized by the Central Luzon Growth Corridor Foundation Inc. to help promote Central Luzon as an ideal investment destination.
Mercado said the members of his delegation represented various businesses and are considered the crème dela crème of the Filipino community in the United States.
The delegates met with officials of the Subic Bay Metropolitan Authority (SBMA), representatives of the Subic Bay Free Port Chamber of Commerce and the Olongapo City Chamber of Commerce, and officials of the DTI-Zambales.
Meanwhile, Olongapo City Mayor Rolen Paulino and Zambales Provincial Administrator Jun Omar Ebdane, respectively, turned over symbolic keys to Mercado, signaling that the local communities welcome the would-be investors.
In welcoming the Filipino-American traders to Subic, Subic Bay Metropolitan Authority COO Joven Reyes said that the SBMA was created by virtue of Republic Act 7227 to promote and develop the Subic Special Economic Zone into a self-sustaining industrial, commercial, financial and investment center.
He said with the SBMA’s mandate to generate employment and attract productive foreign investments, the agency has succeeded in bringing into Subic almost 1,500 business locators and more than 90,000 skilled workers.
The event held at the Subic Bay Exhibition and Convention Center also provided an opportunity for some local companies to exhibit of some of the finest products manufactured in Zambales.
The products included accessories and jewelry, leather and stone craft, souvenir shirts, mango wine, preserves and dried fruit, cashew nuts and butter, and fruit juices.