FIRB approves tax perks for Subic shipyard

By Anna Leah E. Gonzales

May 11, 2022 12:54 am

THE Fiscal Incentives Review Board (FIRB), upon the endorsement of the Subic Bay Metropolitan Authority, approved the grant of tax incentives to Project AGILA for the redevelopment and operations of the former Hanjin shipyard in the Subic Bay freeport zone.

In a statement on Tuesday, the Finance department said the project is funded by the United States-based private equity firm Cerberus Capital Management, which took over the shipyard.

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