Senator Richard J. Gordon called on the Subic Bay Metropolitan Authority and the Taiwanese business community at the Subic Bay Metropolitan Authority (SBMA) to work on drumming up more investments in the Subic Freeport Zone.
Speaking at the grand opening of the Yubantec as the guest of honor, Gordon pointed out that Taiwanese investors are now realizing that Philippines is a very good location for expanding their businesses, hence the SBMA and the Taiwanese group here should exert more effort to entice more investors.
“SBMA and Taiwan should make an effort to drumbeat these investments. If you make noise about it, then there will be more investments. We have to make sure that the commitment is seen, not just in words, but in investments,” he said, reminding the Taiwanese investors of their government’s promise to implement a “Go South” policy made years earlier.
Yubantec is a subsidiary of the Yuban and Co, a Taiwanese air-conditioner and semi-conductor giant that supplies companies such as Asus, MSI and Mitsubishi Electric, among others. Taiwanese investors were the first group to set up shop in the SBMA after the former US naval base was converted into a Freeport when the Americans left and Gordon became its founding chairman and administrator.
Gordon noted that the implementation of the “Go South” policy would complement the bill that he will refile in the Senate which seeks to create an investment corridor in Central Luzon by maximizing the use of available infrastructure and resources in the region.
“If we do that (“Go South” policy) and implement that now. There is enough land between Clark and Subic which is going to be the most vibrant community in the Philippines. With plenty of land, and if we keep our act together, you can help us accentuate the importance of development, of being ahead of the curve, of making sure that we are able to subdivide all these land and complement all the infrastructures already in place. When you grow infrastructure, it must be supported by investments around the area in terms of factories, etc. RICH would have changed the aspect of Central Luzon with all the infrastructures that are already in place,” he said.
The senator also expressed hope that Yubantec will expand its operations in the Freeport zone because “where business goes, development also goes.” SENATE.GOV.PH