Subic Bay International Financial Center (IFC) Building: The First Step in making SSEFZ a Financial Hub for Central Asia.
The Subic Bay International Financial Center (IFC) Building will attract international financial communities to participate in the financial integration of the Philippines and the modernization of financial infrastructure of the country. The presence of these international financial professionals will accelerate knowledge transfer, invigorate economic growth and ensure financial stability, while continuing to push forward efforts to strengthen and reform the international financial system.
Among the important factors being considered are the deployment of foreign funds from their origin locations for the use of investments and developments in the Philippines. Branches of foreign banks located within the IFC are also able to take deposits from foreigners as well as provide loans to foreign locators for the development of their businesses. The IFC will house international financial institutions that have the capabilities to implement relevant recommendations and best practices that are appropriate to local circumstances.
Taking these factors into consideration, there will be straightforward policies to make available pooled foreign development funds than can be quickly and smoothly assigned into the country. Moreover, locators in Subic Bay may take advantage of the available financial assistance to increase their investments in the Freeport zone.
Faced with the nagging issue of having limited land areas to continuously attract investors, the time is perfect to consider the inclusion of the financial industry in Subic Bay Freeport Zone. The proposed 18 storeys IFC building will be able to locate over 500 companies including but not limited to banks, other financial institutions, accounting firms, audit firms, law offices, insurance companies, brokerage, trading houses and financial consultants.
The IFC is able to and will transform Subic Bay into a financial hub and provide high quality jobs for the people of Subic Bay, Olongapo and its vicinities.