SUBIC BAY

Greek business community eyes investments in Subic Freeport
Nov 08, 2025

Subic Bay Freeport – Greek companies under the Hellenic-ASEAN Business Council (HABC) is considering investing in this premier Freeport after expressing a positive feedback during their visit here on November 7, 2025.
 
Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Eduardo Jose L. Aliño welcomed the HABC delegation led by its Chairman Nick Stasinopoulos and Athens Ambassador to the Philippines Giovanni E. Palec upon arrival at the agency’s administration building. 
 
SBMA Board Director Atty. Ruel John Kabigting, Business and Investment Group (BIG) Senior Deputy Administrator (SDA) Renato Lee III, Business and Investment Department (BID) for Logistics account officer Joemando De Vera assisted Aliño in welcoming the foreign dignitaries during their visit.
 
According to HABC Chairman Stasinopoulos, the visit strengthens economic trade and cultural ties with the Philippines and Southeast Asian countries. 
 
“Our purpose here is to strengthen the Greek presence and to create more awareness of the potentials in investments, specifically now in Subic and how we can bring stakeholders together and facilitate joint ventures and interesting projects that could be a win-win situation for the community and the Philippine government,” he added.
 
Stasinopoulos hosted the first Philippine Business Roundtable in September 2025, which encouraged Greek companies to invest and do business in the Philippines.
 
At a presentation held at the SBMA Corporate Boardroom, the HABC delegates showed interest in shipbuilding and the cruise ship industry, which have been major staple activities in the Subic Bay Freeport Zone. 
 
The CREATE MORE Act, which aims to attract more foreign investments, was also discussed during the briefing, where Aliño said that the agency offers benefits such as a 20% corporate income tax rate (from 25%) for registered business enterprises, a 100% deduction on electricity expenses, and additional deductions for trade fairs and tourism investments.
 
Meanwhile, Lee said that local purchases made by the investors are VAT zero-rated, and importations VAT-exempt for export-oriented enterprises. He added that tax and duty exemptions are provided for donations to public schools and government-owned or controlled corporations (GOCCs).

The HABC is a non-profit organization dedicated to fostering bilateral trade, investment, and socio-cultural collaboration between Greece and the ten member-nations of the Association of Southeast Asian Nations (ASEAN). It serves as a strategic platform that connects key stakeholders, including government officials, business leaders, and industry experts, to explore new avenues of cooperation.

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