Republic Act no. 7227 created the Bases Conversion Development Authority (BCDA) and while carrying out its primary mission, went a step further by accelerating the conversion and development of base lands as well as promoting the social and economic development of Central Luzon via the Subic Bay Metropolitan Authority (SBMA)
One hundred percent (100%) foreign equity is allowed for many types of industries including manufacturing, tourism and service-oriented businesses.
SBMA manages the Subic Bay Freeport Zone (SBFZ), ensuring free flow of articles within the zone.
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