SUBIC BAY FREEPORT: There are now 112,653 workers in the Subic Bay Metropolitan Authority (SBMA) owing to an increase in investments at the freeport. There are 1,536 companies that have invested here compared to 1,340 companies recorded in 2015. The SBMA administrator commended the top five employers – Hanjin Heavy Industries and Construction-Philippines with 33,296 employees; NSidec Subic Phils Corp. – 5,240; Sanyo Denki Phils. She said a major reason why companies choose to invest in the Subic Bay freeport is that it is accessible by land, air and sea, pointing out that it is conducive to visits of tourists and movement of goods. “The freeport is also an area that has tax incentives and duty-free importation of raw materials and capital equipment.

Source: Manila Times February 21, 2017 13:05 UTC