The Subic Bay International Terminal Corp. (SBITC) expressed its optimism on the Subic Bay Freeport Zone becoming more robust this 2018 due to increasing investments and activities in the port area.
Due to recent developments in logistics infrastructure and rapid economic growth, Asia is experiencing a boom in intra-regional trade prompting improvements in various sea ports and maritime routes in the region.
In the Philippines, it is reported that there is a noticeable upward performance in the country’s shipping industry leading to an increase of port activity this year. “The Subic Freeport Zone is bustling with activity from various logistics and trading firms and we project growth will continue due to the infrastructure program of the administration,” says SBITC president Roberto Locsin.
The National Government has allocated P500M through the General Appropriations Act to refurbish the piers and wharves in the Subic Bay Freeport zone4. SBMA chairperson and administrator, Wilma Eisma, also inked strategic tie-ups with major US ports for Subic’s expansion and business plans this 2018.
Port expansion is seen as a priority by SBMA in order to make Subic a global maritime trade player. In response to the growing demands of international trade, the SBMA plans to improve local infrastructures and develop industrial zones while increasing port capacity through national funding.
Eisma continues to spearhead efforts to make sure that the SBMA reaches its targets in 2022 to fully develop the Subic Bay Freeport Zone.
“Our priority is to make Subic a more open and competitive Freeport in international trade. With additional investment prospects in the works, Subic Bay is moving forward with positive momentum,” says Eisma.
Last year, SBITC launched the container freight station (CFS) which is envisioned to serve as a regional distribution center (RDC). Locsin calls it the one and only on-dock warehouse among the ports in Region III.
Just recently, SBITC also opened a container barge service spurring inter-island trade with Cebu and Cagayan De Oro. The service connects Subic to Bacolod, Iloilo, Samar, and Leyte through the Cebu port, while the Cagayan de Oro port connects Subic to the whole island of Mindanao. The barge service is expected to open more opportunities for shippers around the country to connect with international trade through the Subic port.
SBITC also commended the partnership between SBMA and the Bases Conversion and Development Authority (BCDA) to integrate their respective plans for the Subic-Clark economic corridor which is expected to result in significant investments for the Philippines.
“2018 will be an exciting year for the Subic Bay Freeport Zone as various international firms have recognized the potential of Subic Bay as a strategic gateway in the Asian market. With cautious optimism, SBITC will continue to be a progressive partner for economic prosperity through managing our ports.” Locsin concludes.
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 Bay 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 Bay the premier trading hub in Southeast Asia.