Bahrain Princess’s Investment in Subic Bay: How this helps the Philippine Economy
The Philippines is set to receive a boost in its economic development as Bahrain Princess Shaikha Jawaher Bint Khalifa Al Khalifa plans to invest in various sectors in Subic Bay Freeport.
The princess, who is a prominent entrepreneur and philanthropist, visited the freeport on January 10, 2024, and expressed her interest in airport, port expansion, fuel depot, renewable energy, cyber security, and tourism projects.
How will the investment benefit the Philippines?
The investment of the Bahraini princess will have positive impacts on the Philippine economy, especially in the areas of job creation, infrastructure development, trade facilitation, and environmental protection.
- The investment will generate employment opportunities for Filipinos, both directly and indirectly, as the projects will require skilled and unskilled workers, as well as suppliers and service providers. The investment will also support the development of human capital, as the princess is known for her advocacy for women empowerment and youth education.
- The investment will improve the physical and digital infrastructure of Subic Bay Freeport, which is a strategic location for trade and commerce in the region. The investment will enhance the capacity and efficiency of the airport and port, as well as the security and reliability of the fuel depot and the cyber network. The investment will also contribute to the expansion and diversification of the renewable energy sources in the freeport, such as solar, wind, and hydro power.
- The investment will facilitate the trade and investment flows between the Philippines and Bahrain, as well as other countries in the Gulf Cooperation Council (GCC) markets. The investment will also promote the export of Philippine products and services, such as agricultural, industrial, and creative goods, to the GCC markets, which have a high demand and purchasing power. The investment will also attract more foreign investors to Subic Bay Freeport, as the princess has a strong network and influence in the GCC region.
- The investment will support the environmental sustainability of Subic Bay Freeport, which is a natural and cultural heritage site. The investment will adhere to the environmental standards and regulations of the freeport, as well as the international best practices. The investment will also promote the conservation and restoration of the natural resources and biodiversity of the freeport, such as the forests, mangroves, coral reefs, and wildlife.
What are the next steps for investment and the Philippines?
The investment of the Bahraini princess is still in the preliminary stage, as the details and terms of the projects are yet to be finalized. The Subic Bay Metropolitan Authority (SBMA), which is the governing body of the freeport, is in close coordination with the princess and her companies, namely Green Aventurine Holdings, Future8 L.L.C., and Nfinity8 Group, to facilitate the investment process and ensure its success.
The investment of the Bahraini princess is a testament to the confidence and trust that foreign investors have in the Philippine economy, which has shown resilience and recovery amid the global pandemic. The investment is also a reflection of the strong and friendly relations between the Philippines and Bahrain, which have been established since 1978. The investment is expected to further strengthen the bilateral ties and cooperation between the two countries, as well as the regional integration and development in Asia and the Middle East.