Subic Bay named Asia’s ‘Fastest Growing Free Trade Zone’
The Subic Bay Freeport Zone has again gained international attention when it garnered two awards in the International Finance Awards 2017 given out by the London-based International Finance Magazine (IFM), a financial market information group.
Under the Financial Awards category, the Subic Bay Freeport Zone was named the “Fastest Growing Free Trade Zone” in Asia while the Subic Bay Metropolitan Authority (SBMA) was recognized in the same category for its “Best Social Responsibility Initiative”.
The IFM awards recognize and honor individuals and organisations in the international finance industry that make a significant difference and add value, as well as herald the highest standards of innovation and performance.
Organizers said the IFM awards make a concerted effort to shine the spotlight on organizations in niche segments and those that exhibit brilliance in the unsung corners of the finance industry.
The other winners from the Philippines are: BPI Asset Management, as “Best Asset Manager”; Omnipay, as “Best Payment Solutions Provider”; and RCBC Bankard Services Corporation, “Best Credit Card Offerings”.
The awards will be handed out next year during the IFM Annual Award Ceremony scheduled on January 26 in Singapore.
SBMA Chairman and Administrator Wilma Eisma said it is “both an honor and privilege to be counted among IFM’s roster of excellence.”
“These awards, which come on the eve of SBMA’s 25th year anniversary, inspire us not only to celebrate our past but more importantly, to forge our country’s future for the sake of our children and future generations by continuing to make a difference and adding value to Filipino lives,” she added.
Subic Bay’s first award recognized its emergence as a flagship of the Philippine economy and a catalyst of growth in the region.
To date, the Subic Bay Freeport has a total of more than 126,000 workers employed by a total of 2,897 companies variously engaged in shipbuilding and other marine-related business, tourism, ICT, manufacturing, and services. With committed investments surpassing the $1.4-billion mark in the first quarter of this year, SBMA officials expect Subic to make more significant strides in the Philippine economy in the coming years.
The second award cited the SBMA for identifying the social needs of the indigenous Ayta community in the Subic Freeport area and taking the initiative to positively impact the social status, earning potential and access to services of the members of the tribe.
Last week, the Subic Bay Freeport was also recognized as the Best Sports Tourism Destination of the Year during the Third Sports Industries Awards and Conference Asia held in Bangkok, Thailand.
In the same event, the SBMA won the silver award for Best Sponsorship of a Sport, Team or Event for sponsoring triathlon events here in 2014 to 2016.
Meanwhile, SBMA Chairman Eisma was adjudged among this year’s winners in the search for the “100 Most Influential Filipina Women in the World”, which recognizes Filipino women who are influencing the face of leadership in the global workplace.
Eisma received the award during the 14th Filipina Leadership Global Summit scheduled on October 25-29 in Toronto, Canada. (JRR)