HD Hyundai Heavy Industries Philippines (HHIP) has launched the Orion Jade, the first vessel completed at its shipbuilding facility in the Subic Bay Freeport, marking a milestone in the country's shipbuilding industry and the revival of large-scale ship construction in Subic.

The launch was held Monday at the Agila Subic Shipyard in the Redondo Peninsula and was attended by South Korean Ambassador Lee Sang-hwa, Finance Secretary Frederick Go, Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Eduardo Jose Aliño, Customs Commissioner Ariel Nepomuceno, Botolan Mayor Jun Ebdane, and Olongapo City Mayor Rolen Paulino Jr.

The Orion Jade is a 115,000-ton crude oil tanker measuring 250 meters long, 42 meters wide, and 21 meters deep. HHIP said the vessel establishes its Subic facility as the company's primary manufacturing base in Southeast Asia.

HHIP President Im Dae Jun described the launch as a historic milestone for the company.

Finance Secretary Go said the project demonstrates the Marcos administration's efforts to attract strategic investments that create quality jobs and strengthen the country's industrial capabilities.

Aliño attributed HHIP's investment to the CREATE MORE Law, or Republic Act No. 12066, which lowered the corporate income tax rate for qualified firms to 20 percent, simplified local business taxes, and streamlined VAT refund procedures.

"The inauguration of the Orion Jade reflects the success of the administration's investment initiatives and reinforces investor confidence in Subic Bay Freeport," Aliño said.

The launch took place at the shipyard's 550-meter dry dock, the largest in the Philippines. HHIP aims to increase production to at least 10 vessels annually by next year.

South Korean Ambassador Lee said the launch of a vessel built in Subic by Filipino workers highlights the strong partnership between the Philippines and South Korea and supports President Ferdinand Marcos Jr.'s vision of restoring the country's position as a leading shipbuilding nation.

HHIP currently employs around 4,000 workers at its Subic facility and plans to expand its workforce to 7,000 as production ramps up. The company also offers employee benefits including free board and lodging, shuttle services, daily meals, and health insurance for qualified permanent employees.