A delegation from 66 of the biggest manufacturing companies in Taiwan recently toured the Subic Bay Freeport in a trade and investment mission.
Led by Terry Lee, director general of Taiwan’s Ministry of Economic Affairs, they were welcomed by officials of the Subic Bay Metropolitan Authority (SBMA) and the Subic Bay Development and Management Center (SBDMC), which operates the Taiwanese-controlled Subic Gateway Park in the Freeport’s central industrial district.
The delegates were briefed on business opportunities in the Freeport by no less than SBMA Chairman and Administrator Roberto Garcia, who said that the mission was very timely, “as it is now the perfect time to visit the Philippines for investments.”
“As you know, in the first quarter of this year the Philippines has achieved the highest GDP growth rate of 6.4 percent, second only to China. This kind of growth was previously unheard of in this country,” he said, pointing out that the Subic Bay Freeport is specially attracting more foreign investors, as the Philippines continues to grow as one of the rising economies in Asia.
“I think the Philippines is now on the radar screen of the foreign investors,” he added, “we have many investors visiting us here in Subic—from China, Taiwan, Korea, Japan and the United States. There is so much interest in investing in the Philippines now.”
The SBMA chairman also expressed optimism that the economic and social ties between the Philippines and Taiwan will continue to prosper further. “We have a very long historical relationship with Taiwan. This park was established in 1998, so we have a long history of good and close economic ties with the Taiwanese and we would like to continue that,” he concluded.