The Subic Bay Metropolitan Authority (SBMA) approved new investment projects worth P4.48 billion in the first half of this year, eclipsing by 42% last year’s new investments record of P3.15 billion for the same period.
SBMA Chairman and Administrator Wilma T. Eisma said a total of 77 new investment projects were recorded from January to June 2019, with 41 approvals worth P3.57 billion in the first quarter and 36 projects worth P902.1 million in the second quarter.
In contrast, 45 new investment projects were approved in the Subic Bay Freeport Zone in the first half of 2018, with P1.17 billion worth of projects in January to March and P1.98 billion in April to June.
Meanwhile, the SBMA also green-lighted 21 expansion projects in the first six months this year, generating investment commitments totaling P555.2 million, Eisma said.
These included 9 expansions worth P515.3 million in the first quarter and 12 expansion projects valued at P39.8 million in the second quarter.
The number of expansion projects in Subic increased from 10 in the first half of 2018 to 21 this year, with committed investments growing from P276.2 million in 2018 to P555.2 million in 2019, or a growth of more than 100%.
Read more: Subic Newslink
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