BUSINESSES in Central and Northern Luzon continue to flourish with the New Container Terminals (NCT) 1&2 of the Subic Bay International Terminal Corp. (SBITC). Products exported by new customers in 2017 include fashion accessories like bags from Bataan, trucks and agricultural equipment from Subic, grains, feeds, and fertilizer from Bulacan, and electronic parts and general department store merchandise from Clark.
“We welcome the growing number of local businesses employing our facilities in the Subic Bay International Terminal NCT 1&2,” says SBITC president Roberto Locsin. “We are glad to see that these industries are discovering and taking advantage of Subic Bay as a gateway to the global market,” he added.
Locsin said that many of SBITC’s customers are manufacturers that import raw materials and export finished goods. Most of the products are exported to Asia, USA, and Europe.
The Department of Trade and Industry (DTI) recorded an 89% increase in the total value of exported products in the Subic Freeport from 2016 to 2017, making Subic one of the most productive freeports in the Philippines.
SBITC also sees an uptick of industries importing goods for domestic consumption. “There is a good balance of import and export volume in the Subic terminal of about 2 exports for every 3 imports. In the succeeding months, we expect an increase in the import volume of fast-moving cargoes because of improved facilities in the terminal,” Locsin said.
For 2017, the Philippine Statistics Authority reported import growth rate of 10.2% and export growth rate of 9.5%. The National Economic and Development Authority continues to push for the implementation of more strategies to promote Philippine products in the global market.
“More initiatives are in the works to attract more firms to avail of our services and make use of our facilities. We will continue to improve and develop our terminals to realize the full potential of Subic Bay.” Locsin concluded.
SBITC, an ICTSI company, is a leader in global port management due to its fast, reliable, and cost-efficient system implemented to its ports in the Subic Bay Freeport Area. The company manages the New Container Compound Terminals 1 and 2 as part of SBMA’s port development master plan to make Subic Bay the premier trading hub in Southeast Asia.