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RA7227 - Law Creating SBMA

Republic Act 7227 - SBMA LAW

Section 13 of Republic Act 7227 created the corporate body termed as the Subic Bay Metropolitan Authority (SBMA).

The SBMA is the operating and implementing arm of the Government of the Philippines in developing the SBF into a self-sustaining industrial, commercial, financial, and investment center for generating employment opportunities in and around the SBF. The SBMA also undertakes the promotion of productive foreign investment into the SBF, and the acceleration of the sound and balanced conversion of the former naval base into alternative productive benefits that may be derived from the zone.

To enable the SBMA to perform its functions, RA 7227 granted it the authority to:

*Operate, administer, manage and develop the ship repair and shipbuilding facility, container port, oil storage and refuelling facility, and Cubi Air Base within the SBF

*Accept local and foreign investments

*Undertake and regulate the establishment, operation and maintenance of utilities, services, and infrastructure, through the private sector, franchising schemes, or build-operate-transfer schemes, if deemed appropriate

*Raise and/or borrow necessary funds from local and international financial institutions

*Operate directly or indirectly or license tourism-related activities

*Protect, maintain, and develop the virgin forest within the baselands, and to adopt and implement measures and standards for environmental pollution control

*Exercise such powers as may be essential, necessary or incidental to the powers granted to it

Subic Bay Freeport Trade Zone
Subic Bay Investment Watch
Subic Homebuilders Inc.
Model Houses