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2017, November 24.  Subic Bay Metropolitan Authority (SBMA), 25th Anniversary

Litho Offset, Amstar Printing Company, Inc.,  Perf 14

Singles, Sheets of 40;  Souvenir Sheets of One

12p  Family Monument  -  Singles  (80,000)

 

100p Souvenir Sheets on One  (4,000)

 

Designers:  Ferdee M. Marcelo, Victorino Z. Serevo

 

Stamp Designs:  Children of the Sun Returning, SBMA Anniversary Logo

 

 

First Day Covers:  Manila

  

                

 

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Subic Bay Metropolitan Authority - 25th Anniversary

"Celebrating the Past, Forging the Nation's Future"

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

1800 - Spain discovers Subic Bay's natural deep and strategically located harbor and soon builds a naval fortress.

1909 - The U.S. Navy selects Subic Bay as a repair and supply depot due also to its strategically located safe and natural deep harbor.

1992 - After almost 90 years as an American military facility, Subic is turned over to the Philippines after the Philippine Senate rejects the renewal of the 1947 US-Philippines Military Bases Agreement, and, the 1991 Mt. Pinatubo eruption destroyed the base facilities.

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.

 

http://www.sbma.com/about-us/brief-history

 

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