MANILA, Philippines—The Subic Bay Metropolitan Authority and the Philippine Coast Guard have signed an agreement that will bolster maritime safety within the Freeport, in a bid to encourage more investors to locate there.

SBMA chair Feliciano Salonga called the agreement timely, considering that more and more companies have been bringing their ships to Subic, instead of other ports in the country for repair and other services.

The Subic Bay area is home to Korean shipbuilder Hanjin, as well as to the ship repair facilities of Subic Dock. The Philippine Shipping and Engineering Co. is also undergoing expansion in the area.

Salonga added that Subic had also become a transshipment hub for many companies operating in the country, making the need for tight maritime security in the area crucial.

Under the agreement, the Coast Guard will help SBMA's seaport, law enforcement, ecology, and maritime affairs departments in enforcing maritime regulations in the free port.

This assistance will come in the form of safety and maritime security inspections of all vessels plying the free port waters.

The Coast Guard will likewise help SBMA safeguard the marine environment in the area by undertaking periodic water testing.

It will also maintain and develop navigational aid systems, as well as conduct search and rescue, harbor patrol, and oil spill response operations.

The agreement likewise provides for joint operations against all illegal activities done at sea within the Subic Bay Freeport.

"We will deploy some of our vessels in Subic Bay to assist the SBMA in implementing maritime safety and humanitarian operations within and in contiguous areas of Subic Freeport,'' Coast Guard Commandant Wilfredo Tamayo said.