Subic sets sights on becoming another HK<\/p>\n
By Claire Wallerstein<\/p>\n
SUBIC BAY, Philippines: Five years after the eviction of U.S.
\ntroops from their largest base in Asia, Subic Bay has set its
\nsights on the ambitious goal of becoming the region's next Hong
\nKong.<\/p>\n
Subic's reincarnation scheme is the result of a potential
\ndisaster in 1991, when an increasingly nationalistic Philippine
\nsenate refused to renew the base's 46-year lease. The move was
\nunpopular with tens of thousands of people in Subic's neighboring
\ntown of Olongapo, whose livelihoods depended on the base.<\/p>\n
The suffering was compounded later that year when the eruption
\nof Mt Pinatubo spewed volcanic ash over the whole area.<\/p>\n
One man was determined the town would beat the odds. Richard
\nGordon, then mayor of Olongapo, mobilized 8,000 locals to work
\nwithout pay to maintain and protect the base while he attracted
\nforeign investors.<\/p>\n
His determination paid off with the creation of the Subic Bay
\nmetropolitan authority, today home to hundreds of foreign
\ncompanies. Exports so far this year have totaled around US$3
\nbillion.<\/p>\n
Gordon has now produced a \"Hong Kong Strategy\", aiming to cash
\nin on the handover by enticing at least 50 of the former British
\ncolony's 400 banks to Subic and developing it as an offshore
\nfinancial center.<\/p>\n
But if Subic wants to be a new Hong Kong it certainly doesn't
\nlook like one. Without a skyscraper in sight, this is no bustling
\nmetropolis, and two-thirds of Subic's 45,000-acre site is still
\ncovered by protected virgin rainforest.<\/p>\n
Gordon boasts: \"Subic has an ideal central location in Asia,
\nin a stable and English-speaking country, and has tremendous
\nspace advantages over Hong Kong.\" He also points to the benefits
\nof $8 billion of abandoned U.S. Navy infrastructure, including
\ndocks, an airport, warehouses, and a generator.<\/p>\n
But many of those who have already invested in Subic believe
\nGordon is getting carried away by an unrealistic pipe dream.
\nBrian Johnson, the Australian managing director of Subic Surf
\nCorporation, which makes wetsuits, said: \"If Richard Gordon
\nthinks he can make this place another Hong Kong, he's making a
\nhuge mistake.\"<\/p>\n
Among an array of problems deterring investors, Johnson lists
\nbureaucracy, high rent, import-export delays caused by corrupt
\ncustoms officials and the expectation that investors will recruit
\ntheir workforce from Gordon's band of former volunteers.<\/p>\n
Johnson claims Gordon, who makes no secret of his presidential
\naspirations, has gone from local hero to dictator, denying
\ninvestors any say in the planning of Subic's future.<\/p>\n
\"I understand that Richard Gordon wants Subic to succeed, but
\nhe must remember he is a public servant -- he has a job given to
\nhim by the president, he's not a bloody king,\" he said.<\/p>\n
Not all investors are grumbling. Jeremy Simpson, president of
\nCambium International Inc, British manufacturers of cigar
\nhumidors, who relocated to Subic from Hong Kong in 1994, said:
\n\"Of course there are some irritations, but compared with other
\nplaces I have worked in Asia, this is heaven on earth.\"<\/p>\n
-- The Guardian<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/subic-sets-sights-on-becoming-another-hk-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }