About Sbma

Only available on StudyMode
  • Topic: Philippines, Subic Bay Freeport Zone, Richard Gordon
  • Pages : 4 (1316 words )
  • Download(s) : 88
  • Published : May 28, 2013
Open Document
Text Preview
About SBMA

The Subic Bay Metropolitan Authority (SBMA) is the operating and implementing arm of the Government of the Philippines for the development the 262 square mile (670 square kilometre) area of Subic Bay Freeport (SBF) or what was the former US Naval facility in Subic Bay into a self-sustaining tourism, industrial, commercial, financial, and investment canter to generate employment opportunities

Brief History
On March 13, 1992, the Philippine Congress passed Republic Act 7227, known as the Bases Conversion and Development Act of 1992, creating the Subic Bay Freeport in anticipation of the pullout of the US naval base facilities. Section 13 of RA 7227 created the Subic Bay Metropolitan Authority (SBMA) and with free port incentives lobbied for by Richard Gordon, an amendment granting tax and duty-free privileges and incentives was inserted during the bicameral committee hearings. Consequently, Gordon, then the mayor of the City of Olongapo, became the first SBMA chairman.

As provided for in Sec. 13 (c) of Republic Act 7227, or the Bases Conversion and Development Act of 1992, the SBMA Board of Directors "shall be composed of fifteen (15) members, to wit: Representatives from different sectors such as the local government units that concur to join the Subic Special Economic Zone;

1. Two (2) representatives from the National Government;
2. Five (5) representatives from the private sector coming from the present naval stations, public works canter, ship repair facility, naval supply depot and naval air stations; and 3. The remaining balance to complete the Board shall be composed of representatives from the business and investment sectors."

A piece of trivia, the Subic International Hotel was the first business establishment to operate inside the SBMA which started its operations in Nov. 25, 1992.

About the Present Chairman

Being spearheaded by its Chairman, Mr. Roberto Garcia, who is the former President and Chief...
tracking img