The Subic Bay Metropolitan Authority (SBMA) and the Hellenic ASEAN Business Council (HABC) have formalized a partnership aimed at expanding trade, investment and business opportunities between the Philippines and Greece.

SBMA Chairman and Administrator Eduardo Jose L. Aliño and HABC Chairman Nick Stasinopoulos signed a Memorandum of Understanding (MOU) on September 17 at Building 225 in the Subic Bay Freeport.

The agreement covers cooperation in trade, investment, tourism, logistics, maritime activities, infrastructure and sustainable economic development, with participation from private-sector and institutional partners of both countries.

Under the MOU, the parties will promote investment opportunities in the Subic Bay Freeport Zone (SBFZ) through business matching activities, trade delegations and commercial ventures, particularly in shipbuilding, ship repair, port operations, logistics, marine maintenance, tourism, cruise terminal development and waterfront projects.

Aliño said the partnership would open opportunities for the broader Hellenic business community to explore Subic as an investment destination.

Stasinopoulos said the agreement builds on continuing exchanges between Greek and Philippine stakeholders, particularly in the maritime sector.

He noted the complementary roles of Greece, home to a major global maritime industry, and the Philippines, a key source of maritime professionals for the international shipping sector.

Under the agreement, HABC will help facilitate exchanges between Greek and Philippine maritime stakeholders, identify investment opportunities, develop business partnerships and promote knowledge and expertise sharing.

Five companies have already expressed interest in investing in the SBFZ, including ERMA Tech Group, which specializes in sustainable maritime technologies, decarbonization, water and wastewater treatment, and marine equipment solutions.