Subic Bay Metropolitan Authority
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| Agency overview | |
|---|---|
| Formed | November 24, 1992 |
| Jurisdiction | The Whole Area of Subic Bay Freeport Zone (Formerly, Subic Naval Base), partial area of Redondo Peninsula (including, Subic Hanjin Shipyard), and the coastal boundary of Subic Bay |
| Headquarters | Bldg. 229, Waterfront Road, Central Business District, Subic Bay Freeport Zone 14°49′02″N 120°16′50″E / 14.81731°N 120.28068°ECoordinates: 14°49′02″N 120°16′50″E / 14.81731°N 120.28068°E |
| Agency executives |
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| Parent agency | Office of the President |
| Website | Subic Bay Metropolitan Authority Official Website |
The Subic Bay Metropolitan Authority is governmental agency of the Philippine government. Sometimes abbreviated as SBMA, the agency has played a significant part in the development of the Subic Bay Freeport and the Special Economic Zone into a self-sustainable area that promotes the industrial, commercial, investment, and financial areas of trade in the zone as well as in the country of the Philippines itself.
The area of jurisdiction of SBMA includes the erstwhile US naval base at Subic, parts of Redondo peninsula where the Subic Hanjin shipyard is located, and erstwhile US defence accommodations in the hills consisting of Binictican and Kalayan housing areas.
The SBMA is currently headed by Martin Diño as Chairman, and Former Public Affairs and Contributions manager of Philip Morris Fortune Tobacco Company Inc. (PMFTC) Atty. Wilma T. Eisma as CEO/Administrator.
On March 13, 1992, the Philippine Congress passed Republic Act 7227, known as the Bases Conversion and Development Act of 1992, in anticipation of the pullout of the US military bases in the country. Section 13 of RA 7227 created the Subic Bay Metropolitan Authority (SBMA) to develop and manage the Freeport which provides tax and duty-free privileges and incentives to business locators in the special economic zone.
Richard Gordon, then the mayor of the City of Olongapo, became the first SBMA chairman.
Mayor Gordon with 8,000 volunteers took over the facility to preserve and protect US$8 billion worth of property and facilities when the last U.S. Navy helicopter carrier USS Belleau Wood sailed out of Subic Bay on November 24, 1992 and started the conversion of the military base into a free port like Hong Kong and Singapore.
On its fourth anniversary on November 24, 1996, Subic Bay hosted the leaders of 18 economies during the Fourth Asia- Pacific Economic Cooperation (APEC) Leaders' Summit. By that time, this emerging investment haven had already successfully attracted companies like Federal Express, Enron, Coastal Petroleum now El Paso Corporation, Taiwan computer giant Acer and France telecoms company Thomson SA to establish operations in the Freeport.
The Authority opened a history center. It has an exhibit about hell ships.
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Wikipedia