ANALYSIS: CURRENT PRODUCT - SUBIC BAY SPECIAL ECONOMIC AND FREEPORT ZONE
Product Features, Benefits, and Appeals
Subic Bay Freeport Zone (SBFZ) has a total area of 67, 452 hectares both land and water (water area has a total of 12,350 hectares and a land area of 55, 102 hectares as defined by Proclamation No. 532 of the Subic Special Economic and Freeport Zone SSEFZ) Metes and Bound. It is comprised by the City of Olongapo, Subic Town, San Antonio in Zambales and the former US Naval Reservation.
The earliest predecessor to the USFAC Subic Bay was an un finished Spanish Naval Station, acquired by the U. S. in 1898, following the Spanish American War. During World War II, most of the original station was destroyed by American rear guard action and aircraft bombing attacks. Following World War II and the achievement of Philippine independence, a decision was made to establish a U. S. Naval Base at Subic Bay. Substantial construction efforts were begun and accelerated during the Korean Conflict, resulting in the establishment of the U. S. Naval Base, Subic Bay, in 1954.
Much of the area now occupied by the Freeport was previously occupied by the City of Olongapo. At that time, the Commander of the Naval Base was also in control of the City of Olongapo.
During the Vietnam Conflict, construction of the facilities was again accelerated, and with the expansion of the Seventh Fleet, Subic Bay became the busiest port in the Western Pacific. In February 1979, the Military Bases Agreement transferred control of the U. S. Naval Base, Subic Bay to the Philippine government. The Agreement expired in September 1991. The facilities have since been turned over to the Subic Bay Metropolitan Authority as part of the Subic Bay Freeport Zone (SBFZ). SBMA and SFA were created on February 5, 1992 through Act No. 7227 of the Republic of the Philippines.
SBF is located southwest of Luzon Island in the...