TIM
TIM eMagazine
eMagazine Vol.2
Vol.1 Issue 5 1
Evergreen vessel under the KTP service is scheduled
to make its maiden call to Subic on 19 April.
In December 2016, the Taiwan Maritime and Port
Bureau (TMPB) expressed interest to partner with
the Subic Bay Metropolitan Authority (SBMA) to
increase container transshipment traffic between
the ports of Taiwan and Subic. TMPB raised the pos-
sibility of partnership during a recent port visit to
Subic, which stemmed from SBMA’s participation in
the 22nd Philippines-Taiwan Joint Economic Con-
ference last October in Taipei.
The Philippines is capitalizing on Taiwan’s “South-
bound Policy” which aims to strengthen trade and
investment relationship between Taiwan and coun-
tries south of the latter’s territory. This “paradigm
shift” opens the doors for the Philippines to capture
businesses in Taiwan’s high-value manufacturing,
innovation, logistics and transshipment, renewable
energy, e-commerce, and financing sectors.
The SBMA has asked the TMPB to encourage in-
dustries in Taichung to utilize Subic as the regional
gateway.
Taiwan is the Philippines’ sixth biggest trading
partner, facilitating around US$ 7.85 billion worth
of bilateral trade in 2015. Currently, the Subic Bay
Freeport Zone hosts 52 Taiwanese companies with
US$ 500 million worth of investments and over
12,000 jobs generated.
Meanwhile, South Korea is the Philippines’ fifth
largest trading partner in 2015. In 2014, bilat-
eral trade between the two countries reached
US$ 13.4 billion, a number that is expected to
reach US$ 20 billion over the next five years. This
projection has triggered the increase of Korean
investments in the Philippines in the recent years,
with construction, cosmetics and food companies
looking to invest.
Recently, SBMA has urged local government
units around the Subic Freeport Zone to start
developing industrial parks to accommodate the
growing number of investors.
“All of these developments are inter-connected.
We’re now seeing the results of our campaign to
promote Subic. We are doubling our efforts to
sustain the current momentum to ensure we don’t
lose on the gains we have achieved in putting
Subic at the center of economic growth in central
and northern Luzon. We are ready for more port
activities and a vibrant Freeport,” added Mr. Locsin.
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