Subic Freeport woos Greek maritime investors
The Subic Bay Metropolitan Authority is eyeing Greek maritime investments through a strategic partnership with the Hellenic ASEAN Business Council (HABC), a non-profit serving as an institutional bridge between the economies of Greece and member-states of the Association of Southeast Asian Nations.
Subic Bay Metropolitan Authority (SBMA) in the Philippines is seeking Greek maritime investments, forming a strategic partnership with the Hellenic ASEAN Business Council (HABC). This alliance aims to bolster trade and investment between Subic, a key sea port in the ASEAN region, and Greece, which possesses the world’s largest merchant fleet, accounting for approximately 21%.
The memorandum of understanding (MOU) signed on September 17 by SBMA Chairman Eduardo Jose Aliñado and HABC Chairman Nick Stasinopoulos covers shipbuilding, maritime logistics, port operations, and cruise tourism. Stasinopoulos highlighted the mutual potential, emphasizing Greece's extensive maritime communities and the Philippines as a major contributor to the global maritime workforce.
Aliñado described the MOU as a promising new chapter for Subic, which has initiated a P28.18-billion expansion and modernization plan for both its air and sea ports. Five Greek companies have already shown interest in investing in Subic, such as ERMA Tech Group, known for sustainable maritime technologies, and D.K. Fotinakis Ltd., a leading ship repair and marine engineering firm.
The SBMA also plans to collaborate with the Hellenic Port Association (HPA) to share best practices with the Greek port sector. Prior to this SBMA-HABC agreement, Stasinopoulos also signed an MOU with Joey Concepcion, chairman of the ASEAN Business Advisory Council (ASEAN-BAC), to strengthen business engagement among Greece, the Philippines, and the wider ASEAN region.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
