| By Malou Dungog |
| SUBIC BAY FREEPORT, Feb. 8 (PNA) — The Subic Bay Metropolitan Authority (SBMA) unveiled on Tuesday its long-term goal of establishing in the Subic Bay area a First World eco-urban center that would also push for the development of municipalities surrounding the free port. In his state of the Freeport address (SOFA) at the Subic Bay Arts Center here, SBMA Administrator Armand Arreza said the SBMA envisions a unique eco-urban development that could serve as a regional city for South East Asia. “This is the challenge for the future,” Arreza told stakeholder groups here. “Our big long-term goal would be to transform the greater Subic Bay area into a First World eco-urban center in 20 years.” Arreza, who reported on the agency’s plans after SBMA Chairman Feliciano Salonga cited accomplishments in the past year, said the eco-urban project will incorporate significant investment, financial and business opportunities, and allow the convergence of developments in logistics, commercial, leisure, educational, and medical industries. “It would also complement Clark Freeport in our common posturing as the new catalyst for growth in the Mega Luzon area,” he said. Under the plan, the SBMA has identified various development nodules for government and private funding. These include commercial areas in downtown Olongapo and Subic’s Gateway District; integrated resorts in Olongapo, Morong, Bataan and Subic, Zambales; industrial estates in Hermosa, Bataan and Castillejos, Zambales; and information technology (IT) parks at the Tipo area, also in Hermosa. The plan also calls for development of an integrated port and logistics area; a medical city in Cubi; an education city; additional housing areas at the El Kabayo area and in Tipo; and a shipbuilding center at the Redondo Peninsula. Arreza said the vision for Subic’s eco-urban center is boosted by Executive Order No. 675 and the Subic-Clark-Tarlac Expressway Project (SCTEP), which is set to open next month. “These are the two ‘enablers’ that would help us deliver on our vision,” he stressed. He said that E.O. 675, which extended Subic’s tax and duty-free regime to other areas within the Subic Special Economic and Freeport Zone (SSEFZ) that may be identified, fenced, and secured by the SBMA, would address the problem of limited space in Subic. On the other hand, the SCTEP would have a “tremendous potential” because it would hasten the movement of goods and manpower in the area, he added. “With this alliance between Subic and Clark, and now the surrounding areas as well, we will be able to compete against the best in the South East Asian region,” he said. At the same time, Arreza expressed confidence that the eco-urban development plan would be a viable project, given the SBMA’s success in generating investments since 2006. “In our first SOFA two years ago, Chairman Salonga and I pledged to double investment commitments in Subic from the cumulative total of $ 2.3 billion in 2005 to $ 5 billion in 2010,” Arreza recalled. “Now that we have exceeded our original target when we reached $ 5.4 billion last year, we have adjusted our 2010 goal to $ 7.5 billion,” he said. Arreza added the SBMA had paved the way for more investments in Subic by streamlining investment- and port-processing procedures, organizing the SBMA business group into industry-focused units, and facilitating the automatic renewal of certificate of registration and tax exemption. It also clarified legal ambiguities, harmonized customs procedures, intensified the agency’s credit and collection efforts, and cracked down on smuggling. (PNA) |
[ Published by : Positivenewsmedia.net ] February 8, 2008
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