Subic Bay Freeport – Greek companies under the Hellenic-ASEAN Business Council (HABC) are looking into investing in this premier Freeport after showing interest during their visit here on 7 November.

Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Eduardo Jose L. Aliño welcomed the HABC delegation led by its Chairman Nick Stasinopoulos and Philippine Embassy Athens Ambassador Giovanni E. Palec at the agency’s administration building.

SBMA Director Atty. Ruel John Kabigting, Business and Investment Group Senior Deputy Administrator Renato Lee III, Business and Investment Deparment (BID) Logistics Account Officer Joemando De Vera accompanied Aliño in welcoming the foreign dignitaries during the delegation’s visit to the Freeport.

According to HABC Chairman Stasinopoulos, the visit strengthens economic trade and cultural ties with the Philippines and Southeast Asia.

“Our purpose here is to strengthen the Greek presence and to create more awareness of the potentials in investments specifically now in Subic here and how we can bring stakeholders together and be able to 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 Boardroom of the SBMA’s administration building, the HABC delegates showed interests in the topic of shipbuilding and cruise ship industry that has been a staple in the Subic Bay Freeport Zone.

Among the topics, the discussion on the CREATE MORE Act that aims to attract more foreign investments piqued the interest of the delegation.

SBMA Chairman reiterated 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.

SDA Lee said that local purchases made by the investor is 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 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.