Greek companies under the Hellenic-ASEAN Business Council (HABC) are considering investments in Subic Bay Freeport following a visit on November 7, 2025.
Subic Bay Metropolitan Authority (SBMA) Chairman Eduardo Jose L. Aliño welcomed the HABC delegation, led by Chairman Nick Stasinopoulos and Athens Ambassador to the Philippines Giovanni E. Palec, at the agency’s administration building. Officials including SBMA Board Director Ruel John Kabigting and Business and Investment Group Senior Deputy Administrator Renato Lee III assisted during the visit.
“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,” said Stasinopoulos.
The delegation showed interest in shipbuilding and the cruise ship industry, key sectors in Subic Bay Freeport. Discussions also included the CREATE MORE Act, which offers incentives such as a 20% corporate income tax rate, 100% deduction on electricity expenses, and additional deductions for trade fairs and tourism investments.
Lee highlighted that local purchases by investors are VAT zero-rated, importations are VAT-exempt for export-oriented enterprises, and tax and duty exemptions apply for donations to public schools and government-owned or controlled corporations.
The HABC, a non-profit organization, promotes trade, investment, and socio-cultural collaboration between Greece and ASEAN nations, connecting government officials, business leaders, and industry experts to explore cooperative opportunities.
