Senator Dick Gordon called on the Subic Bay Metropolitan Authority (SBMA) and the Taiwanese business community to work on attracting more investments in the Subic Bay Freeport Zone.
Speaking as guest of honor at the grand opening of Yubantec, Gordon pointed out that Taiwanese investors are now realizing that the Philippines is a very good location for expanding their businesses.
“We have to make sure that the commitment is seen.”
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 U.S. naval base was converted into a Freeport and Gordon became its founding chairman and administrator.
“The implementation of the ‘Go South’ policy would complement the bill I will refile in the Senate.”
“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,” the veteran legislator said, reminding the Taiwanese investors of their government’s promise to implement a “Go South” policy made years earlier.
Gordon also noted that the implementation of Taiwan’s “Go South” policy will complement a bill that he will refile in the Senate which seeks the creation of an investment corridor in Central Luzon.
Gordon earlier filed a bill calling for the creation of a Regional Investment and Infrastructure Coordinating Hub (RICH) of Central Luzon, that aims to bring jobs and capital to the region and help decongest Metro Manila.
“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.
Gordon also expressed hope that Yubantec will expand its operations in the Freeport zone because “where business goes, development also goes.”