SUBIC BAY FREEPORT—The country’s premier free port remains to play a major role in pushing the economic growth envisioned by the Duterte administration for the national government by generating business and job opportunities.
Lawyer Randy Escolango, officer in charge-administrator and CEO of Subic Bay Metropolitan Authority (SBMA), said the role of Subic Freeport is always as important in the thrust of the national government in inclusive growth by generating business opportunities and creating jobs.
Escolango noted that the financial performance of the SBMA and contribution to the national economy show best ratings in the past four years, which turned the table for the SBMA from “sickly” to one of the most successful government-owned and -controlled corporations to date.
Earlier this year the SBMA reported that in 2015, it was able to appropriate P302.5 million for eight major infrastructure projects, which was 956.73 percent higher than in 2014, with only P28.6 million.
The amount is part of the P800-million capital expenditures being utilized this year by the SBMA to fund the repairs of major service roads networks and other facilities.
In tourism, Subic Freeport is included in the shortlisted nominees as Destination of the Year, Event Sponsorship of the Year and Organizer of the Year- Government for the Philippine Sports Tourism Awards on November 22 this year.
Last November 2, SBMA Chairman Martin Diño went on a major business mission to the United States to formalize a Sister Port agreement with the Port Authority of San Francisco. He also met with the manufacturer of hybrid renewable energy Eco-Gen Energy and a solid waste investor.