SBMA administrator Armand C. Arreza said the establishment of a Science Park in Subic will support the freeport’s move towards going into the high-technology business by attracting IT firms to locate in the Freeport.

"As we shifted to high- end from low-end, we are allocating 20 hectares for a Science Park for Taiwanese companies and for them to use our local IT talents," Arreza said.

Arreza has already discussed this with Theodore H.M. Huang, chairman of TECO and Century Development Corp.

The proposed location of the Science Park will be part of the Phase 2 of the Subic Bay Industrial Park, which is also developed by the Taiwanese.

While there are many qualified graduates for the software development companies, Arreza also cited the need to build an economies of scale for this kind of venture, which the Century Development can provide.

It will be the same model as Eastwood Cyber Park but a more integrated development that includes educational training center, commercial spaces and entertainment.

SBMA is targetting to host software development companies, research and development, business process outsourcing and call centers.

Arreza expects the deal to be finalized during the Taiwan Economic Conference, which would be held here before end this year. The economic conference is expected to bring in potential Taiwanese investors for Subic.

"They will develop the science park and SBMA will provide the land," he said.

Arreza cited the success of Nankang Cyber Park, Taiwan’s premier high-tech park that was responsible in promoting Taiwan’s capability in the IT sector.

Nankang Cyber Park was developed to create an excellent environment that is conducive to investments for high-tech industries with research and development, and elevate Taiwan’s IT image worldwide.

Century Development Corporation was established in 1993. Shareholders are elites from different fields of finance, construction, engineering, and real estate development.

They include Ministry of Economic Affairs (MOEA), TECO Electric & Machinery, China Development Bank (CDIB), BES Engineering Corporation, RSEA Engineering Corporation, RUENTEX GROUP, Ascendas Singapore, etc. The business line of the company includes investing and developing domestic and overseas industrial parks, office buildings, factories, management and leasing of industrial parks.