Subic never fails to fascinate investors, tourists and residents. Since the Philippine government turned over the administration of former US naval base to a local agency, it has been converted into an income-generating economic zone. For more than two decades, it has transformed into a bustling tourist destination and an investment hub, making it an important area in Central Luzon.
But how come the former US military base that has turned into a special economic zone continues to develop? Here are some compelling reasons:
Favoured by the government – The present administration cites Subic as one of the areas where investments and tourism are poised to flourish. For the current government, it is an ideal business venue to decentralise Metro Manila. Hence, it is one of the cities that benefits from ‘Build, Build, Build’ infrastructure programme.
Has transformed into the Philippines’ major logistics hub – The Freeport is in the process of being the most advanced logistics hub in the country. Because of the support the national government has given to the Freeport, the administrators of the economic zone, Subic Bay Metropolitan Authority (SBMA), envision it to be a major investment draw in this part of the country.
Soon to be a cruise destination – Major international cruises are in the process of adding Subic in its Asian itinerary. This makes a major push to its tourism campaign, which is currently booming. Now, luxury cruise passengers can tour the hottest tourist spot in Central Luzon.
Investors are coming – Many global investors have applied to do business in the economic zone, according to SBMA. These businessmen are keen on doing business in the area because of the area’s strategic location (no wonder Americans made it a military facility) and its natural beauty.
Aside from Clark, Subic remains the place to be in Central Luzon. Its fabulous landscapes and seascapes and its endless potential for investment growth, make this site a major economic venue in the Philippines.