CITY OF SAN FERNANDO -- Kapampangan business magnate Reghis Romero II stressed the vital role of Clark and Subic in the global supply chain.
Romero II, guest speaker at the induction of the new officers and members of Central Luzon Media Association (CLMA) Pampanga Chapter, said the Clark International Airport and Subic seaport serve as the gateway for global trade and commerce.
“If Clark is the region’s international gateway for airborne commerce, Subic serves the same role for seaborne. This Subic-Clark growth corridor serves as the platform for the region’s supply chain and the rest of the country as well," he said.
Romero said Subic is the most strategic location for port operations with its capacity to handle the largest vessels in the world.
"It is the port of choice outside the National Capital Region to push immediate and accelerated growth,” he said.
Romero said the development and modernization of the Subic Bay port will unlock the “massive economic potentials and further fuel the faster economic growth of all the Philippine regions north of the NCR.”
He said the regions of Ilocos, Cordillera Administrative Region, Cagayan Valley, and Central Luzon accounting for 18% of the total Gross Domestic Product of the country, adding P3.9 trillion to the national economy just for 2022.
In the last two years, Romero added that all these regions have grown faster than the growth of Metro Manila, and faster than the growth of the entire nation.
“With larger investments in expansion and digitalization, the Subic Port can further ignite domestic and international trade to and from Luzon, which will expand the economy of Northern Luzon regions even faster,” said Romero.
He however noted the great logistics challenges in the country which has one of the highest logistics costs in Southeast Asia with more than 20% of sales.
Romero said Thailand only has 11% based on reports of the Department of Trade and Industry and World Bank.
The development of the deep-sea port will provide a seamless flow of goods, according to Romero.
"With manufacturing and services locators directly adjacent with the ports, the development of the port facilities and the entire economic zone can increase the attractiveness of the Philippines for the FDIs," he said.
He added that investors need modern and state-of-the-art port facilities.
Romero also noted that Subic is “not just a commercial hub but also a tourist destination.”
To ignite Subic port's development, Romero said the Harbour Centre Port Terminal, Inc., which he owns, will start the expansion and modernization of the Subic port on November 26.
He said he was eyeing the entry of more luxury liners, which are expected to bring in more tourists.
“Modernizing the ports, the facilities, and the services of the freeport zone can attract cruise ships, luxury liners, and even by-land tourism catering to various tourism activities from leisure, educational, religious, and most especially for local and international meetings and conventions that require large capacities of tourism establishments which can all be provided by Subic and Clark," he said.