SBMA sees 15% revenue growth in Subic ICT sector

By HENRY EMPEÑO

SUBIC BAY FREEPORT — The P32-billion information and communication technology (ICT) sector in this free port is expected to generate some P76.4 million in revenue for the Subic Bay Metropolitan Authority (SBMA) this year, a 15-percent growth projection seen to be sustained by ongoing expansion projects.

SBMA Administrator and CEO Wilma T. Eisma said the agency is very positive about the forecast as Subic’s ICT sector keeps holding on to an average monthly income of P6 million in the past five months.

“With an average monthly collection of P6 million, the agency’s Business and Investment Department for ICT (BID-ICT) is expecting to generate around P76.4 million at the end of the year,” Eisma said. “This would be 15.64 percent higher than the revenue we posted for ICT in 2016.”

Eisma added that the (BID-ICT) has recorded a total revenue of P29,902,215 from players in Subic’s ICT industry as of May this year.

“This collection had thus far eclipsed the agency’s 2017 revenue targets by 35.15 percent,” she also said.

The BID-ICT, which handles Subic business locators that are engaged in business process outsourcing (BPO), business process management (BPM), and other related industries, has reported a total revenue collection of P68,314,258 in 2016.

subic bpo shop2
Growing sector: workers at a business process outsourcing company in the Subic Bay Freeport

Cleofe Espineli, who heads BID-ICT, said the revenue came from 95 business locators that are infusing more than P32.17 billion worth of investments in the Subic Freeport and employing nearly 2,000 workers.

Espineli added that the Subic ICT sector is experiencing consistent growth, as the BID-ICT is currently processing expansion projects for some existing locators that will result in additional committed investments of P273 million and additional employment of 608 personnel.

She said that upon completion of the expansion projects, the SBMA could expect to collect additional revenue of P15.1 million.

The growth in Subic’s ICT industry mirrored positive results in the SBMA’s over-all financial performance this year.

Earlier, Administrator Eisma reported that the agency posted P1.25 billion in revenue from January to May this year, which is 7.7 percent higher than the P1.16 billion generated in the same period last year.

Eisma also noted that the agency’s net income increased by 126 percent in the January-May 2017 period when it collected P240.21 million, compared to the P106 million that was registered in the same period  last year.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s