Taiwan International Ports Corporation plans Subic Bay Freeport investment

Taiwan International Ports Corporation (TIPC) has showed its interest to invest in Subic Bay Freeport in the Philippines.

“Subic is the finest commercial and tourism destination that we have seen, and the future cargo shipping destination,” Chih-Ching Chang, chairman of TIPC, said according to The Standard.

According to Chang, ports in Taiwan are nearing full capacity and many shippers in Taiwan plan to invest overseas and Subic is among the preferred locations, specifically the Taiwanese-managed Subic Bay Gateway Park.

“Subic must prepare for the future as more cargoes are expected to come here from Taiwan because the port in Taiwan is already full. They are coming to Subic and we can help make that happen,” Chang said, adding that TIPC would host a meeting with shipping companies and port users in Taiwan and convince them to send cargoes to Subic.

Roberto Garcia, chairman of Subic Bay Metropolitan Authority, said Subic had been making progress in terms of transshipment and maritime logistics services and the port can still offer at least 1,000 hectares of land to investors for development.

Subic Port handled a container volume of 123,558 teu in 2015, a major increase from 77,618 teu in 2014.