NextGen Day

Despite the challenges posed by the coronavirus disease 2019 (Covid-19) pandemic to investors, the Subic Bay Metropolitan Authority (SBMA) was able to generate PHP3.47 billion in revenue last year, an increase of 8% over the previous year, as well as other significant achievements in key performance areas.

“While a few indicators remain influenced by the Covid-19 pandemic,” SBMA chairman and administrator Wilma T. Eisma said in a statement on Wednesday, “the general trend is upward where the SBMA was able to accelerate growth and surpass its performance in the previous year.”

According to her, the figure is PHP270 million, or 8% more than the same period in 2020.

The majority of the profits came from leases and port operations, according to Eisma, with land and building leases contributing PHP1.38 billion and seaport operations contributing PHP1.37 billion.

She also stated that the agency’s regulatory revenues increased by 11%, bringing in PHP408 million, while airport operations surged by 26%, bringing in PHP79 million.

Positive reports in investment and job creation, tourism, imports, and exports were also noted by the SBMA president.

According to the SBMA, there were 142,177 Subic Bay Freeport workers as of December 31, 2021, up 2.31 percent from 138,966 workers in 2020.

“Business locators in the Subic Bay Freeport Zone (SBFZ) numbered 1,737 as of December 31, up slightly from the previous year,” Eisma said, adding that new investments, including expansions, totaled PHP17.29 billion.

The pre-pandemic 2019 level was surpassed by PHP8.05 billion, or 87 percent, in 2021, with the bulk of the funding coming from a PHP15-billion promise from a business locator proposing to develop the SBFZ marshaling yard.

Meanwhile, Eisma stated that Subic’s pandemic-affected tourism industry is recovering, with 7.3 million same-day visits registered in 2021, up 42 percent from the 2.3 million recorded in 2020.

In terms of trade, she claimed the Subic Bay Freeport “defied the pandemic’s negative impact by posting a total import value of USD1.58 billion in 2021, which was 49.53 percent more than the USD1.12 billion import value in 2020.”

Subic, on the other hand, saw a total export value of USD1.37 billion, up 32.42 percent from the USD1.03 billion forecast for 2020.

Eisma said that both import and export figures exceeded pre-pandemic records by 8.12 percent and 6.73 percent, respectively.

As of December 31, the Subic Bay International Airport (SBIA), which was designated by the Department of Transportation to handle “Bayanihan” flights, had recorded 53 flights, bringing home a total of 14,312 overseas Filipino workers and returnees.

For the SBMA, the SBIA brought in PHP3.17 million in direct revenue.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---