SBMA posts a record net income after taxes of PhP789 million, the highest in its 25-year history, as against its losses of PhP1.118 billion in 2011.

The number of new approved investment projects increase substantially by 180 percent while the Port of Subic registers an impressive growth in freight on board (FOB) values by 133 percent versus 2011 figures.

The Department of Tourism (DOT) recognizes "Subic Bay Freeport and the entire province of Zambales in general has been identified by the Department of Tourism as one of the Top Destinations in the country due to its wide array of quality standard tourist facilities and level of visitation it generated from local and foreign tourists".

SBMA celebrates the 20th year anniversary of the formal turnover of the former US Subic Naval Base to the Republic of the Philippines.

"After a careful and in-depth evaluation of all convention facilities in the region", DOT - Region 3 announces its "unequivocal choice of Subic Bay Freeport as the Premier Convention Capital of Central Luzon".

SBMA successfully holds the first-ever Subic Bay Maritime Conference and Exhibit at the Subic Bay Convention and Exhibition Center with Subic Bay International Terminal Corporation as co-organizer and with more than 500 local and foreign participants.

A web-based Structured Archive Retrieval System is implemented agency-wide in an effort to standardize the documentary processes of all SBMA departments and offices, decrease expenditures on paper and other related supplies, and increase the transparency of the agency's processes; resulting in a possible savings of up to P12.5 million in operating and capital expenses.

Brazil's Vale Shipping Holdings Pte. Ltd. (VSH), an affiliate of Vale SA, which is the second largest mining company in the world and the largest producer of iron ore and iron pellets, launches its US$52-million iron ore transhipment hub in Subic Bay Freeport, bringing in a total revenue collection of PhP72.34 million by year-end. Subic Bay Freeport hosts two major triathlons - 2012 K-Swiss ITU Subic Bay International Triathlon and the first Century Tuna 5i50 Triathlon - attracting more than 1,400 local and foreign professional and amateur triatheletes, and prompting international sports magazine TriMag Asia to note that "Subic Bay... with its interesting course and friendly atmosphere is increasingly getting a reputation for top notch races".

President Benigno Simeon Aquino III appoints SBMA Chairman Roberto V. Garcia as SBMA chairman and administrator, and Joven D. Reyes as a member of the SBMA Board of Directors.

The SBMA's Ecology Center, together with volunteer bat counters, completes its second 2011 population survey of fruit bats, one of the most popular species endemic to this free port zone, to promote the conservation of these nocturnal mammals.

The SBMA joins the official launch of the Asian Cruise Terminals Association (ACTA) at the Marina Sands Convention Centre in Singapore on the eve of the opening of Cruise Shipping Asia 2011, a three-day conference and exhibition on the growing Asian cruise market.

The SBMA's Emergency Rescue Team (ERT) again receives a well-deserved recognition, this time from the town of Calumpit in Bulacan province for its participation in rescue operations at the height of the flooding caused by typhoon "Pedring'.

Investment pledges from local investors reach an all-time high of $1.07 billion in the first nine months of the year, entirely dominating the arena with 72 out of the 95 projects approved by the SBMA Board in the said period. Topping these local investments are three (3) new renewable energy projects with committed investments totaling more than $1.03 billion, comprising 97 percent of total local investment pledges.

President Benigno Simeon Aquino III visits the Hanjin Heavy Industries and Construction Corp. (HHIC) shipyard in Redondo Peninsula for the first time to grace the naming ceremony of two (2) bulk carriers commissioned by the Adani Group of India.

The Subic Bay Metropolitan Authority (SBMA) releases LGU shares, totaling PhP59.9 million, to contiguous and affected local government units under a new tax collection scheme, involving the direct collection by the SBMA of two (2) percent of the five (5) percent corporate tax paid by SBFZ locators.

Eight (8) members of the SBMA search and rescue unit are sent to Japan to help in rescue operations in the wake of the catastrophe caused by an 8.9-earthquake in that country. Joining the SBMA team are the search and rescue groups of the local government units of Makati and Pasig for a 10-day search and recovery operation.

President Aquino appoints Roberto V. Garcia as SBMA chairman/head of agency.

The new SBMA Board of Directors (BOD) holds its first regular board meeting.

The SBMA, the Pastolan Tribal Council and the National Commission on Indigenous Peoples (NCIP) sign a Joint Management Agreement (JMA), recognizing and respecting the rights of the Aetas in their pursuit of economic, cultural and social development based on the IPRA law and programs implemented by the government. The JMA also provides for the systematic management and development of the ancestral lands as indicated in the Ancestral Domain Sustainable Development and Protection Plan, while ensuring the promotion of the Aetas' human rights.

The SBMA board approves three (3) renewable energy investment projects, namely: Energy Logics Solar Holdings, Inc., which pledged $458.5 million in August to establish and operate a solar energy project; Jobin-SQM, Inc., with $300 million in January to engage in new renewable, non-conventional and environment-friendly energy sources and systems; and Energy Logics Philippines, Inc., with $280 million in August to develop, install, construct and operate a utility-scale wind energy project.

Investment pledges from local investors reach an all-time high of $1.07 billion for the first nine months of the year, entirely dominating the arena with 72 out of the 95 projects approved by SBMA BOD for the said period.

The SBMA takes on a significant role in the government's National Greening Program (NGP), as the Agency signs a joint memorandum of agreement with the Department of Environment and Natural Resources (DENR) and the Department of Science and Technology (DOST) for the establishment of an indigenous tree species nursery in the Freeport.

The SBMA hosts the Second Pro-Tem meeting of the Asian Cruise Terminals Association (ACTA), as officials from various ports in Singapore, Malaysia, Kobe, and Shanghai cite Subic's potential as a cruise destination.

The Office of the Government Counsel upholds the Joint Venture Agreement forged by the SBMA and the Harbour Centre Port Terminal, Inc. for the development, modernization and operation of its ports.

Cumulative investments in the Subic Bay Freeport reach US$7.176 billion, posting a healthy increase of 20 percent from last year's total of US$5.958 billion.

Foreign and local tourist arrivals at the Freeport breach the five-million mark, reaching 5.4 and exceeding last year's total of 4.1 million by 33 percent.

The Subic Bay Metropolitan Authority (SBMA) inaugurates its new Regulatory Building, which is envisioned to serve as its One-Stop-Shop for servicing locator licensing and permitting requirements.

The SBMA harnesses the power of the new media and social networking through a re-designed and re-developed corporate website (www.sbma.com), and a tourism-oriented, fan-based account (Destination Subic Bay) in Facebook.

The SBMA's community radio known as Subic Bay FM resumes broadcast at its new station site at Building N.

The SBMA takes a major step toward the protection and sustainability of Subic Bay by calling for the first Subic Bay Water Summit among various stakeholders in the Subic Bay Area, resulting in a Declaration of Commitment among duly elected/appointed representatives of local government units (LGUs), national and regional government organizations (GOs), and other stakeholder groups.

Total active workforce in the Freeport expands to 89,271, as of end-June 2010, and benefits some 446,355 Filipinos based on five (5) individuals per household, which is the average size of a Filipino family.

The SBMA signs up Sunnew Investments Ltd. of China for the establishment of a US$75-million 50-megawatt (MW) wind energy project in Redondo Peninsula, which is expected to produce about 50 MW of power by 2012, and make the Subic Bay Freeport the country's first Freeport with an alternative energy source.

RP Energy commits to build a US$0.5-billion, 600-megawatt coal-fired power plant as a joint venture between Taiwan Cogeneration Corporation and Aboitiz Power. The first 300-MW is expected to be online by 2012.

Philip Morris International inaugurates its US$20-million regional leaf tobacco distribution center at the Subic Techno Park.

The SBMA inks an agreement with Broadband Broadcast Services (BBS)-Philippines for the management, operation and expansion of the Mabuhay Satellite's Subic Space Center, a pioneer satellite telemetry, tracking and control system facility in the Philippines.

In line with the promotion of Subic Bay as a cruise ship destination, the SBMA is named as one of the founding members of the Asian Cruise Terminals Association (ACTA), together with Singapore. Japan, China and Korea. The ACTA aims to provide members with a platform for regional cooperation in terminal development, operations and management.

PLDT Subic Telecom partners with the SBMA in promoting the Freeport's emerging IT capabilities to enable Subic Bay Freeport to compete directly with the country's leading ICT players like Manila, Cebu, Davao and others.

HHIC-Phil unveils the country's biggest crude oil tanker and the first one to be built in the Freeport, bringing to eleven (11) the number of vessels it has produced at its Redondo shipyard, and putting Subic in the map of high-value growth industries and the radar screen of ship buyers worldwide.

The workforce in the Freeport continues to grow proportionately to its development as a maritime hub. As a labor-intensive industry, HHIC-Phil's shipbuilding operations and construction activities, in particular, have created 16,874 jobs with an annual payroll of PhP3.25 billion, as of end-2009.

Cumulative investments total US$5.96 billion at the end of the year. Major projects include Ayala Land, Inc. and Ocean Nine Philkor Inc. which commit US$53.51 million and US$52.39 million worth of investments, respectively.

The Subic Seaport breaks its record performance by posting an all-time high income of more than PhP472 million, translating into a substantial increase of 71 percent from its 2008 total revenue of PhP276.24 million.

Tourist arrivals in the Freeport hit a total of 4.1 million, as against 3.3 million in 2006, 1.5 million in 2007, and 2.9 in 2008.

For the third time, Subic Bay once again hosts the 21st Philippine Advertising Congress at the Subic Bay Exhibition and Convention Center.

The Department of Tourism names Subic Bay as the No. 1 local tourist destination of the year and one of the country's bird-watching sites.

The SBMA's bid to become a MICE destination strengthens, as the Subic Bay Exhibition and Convention Center becomes the venue of 100 events with a total attendance of 61,177 participants. These figures translate into almost two (2) events and more than 1,176 MICE participants/visitors a week.

The Subic Bay Metropolitan Authority (SBMA) musters an incredible increase of 1,198.87 percent in foreign direct investments for the period January-May, compared to the same period in the previous year.

The SBMA finishes Phase 2 of the Subic Bay Port Development Project with each phase involving the construction of a container terminal with a 280-meter berth and the installation of two (2) gantry cranes with a total handling capacity of 600,000 TEUs a year.

The SBMA completes the privatization of the SBMA Power Distribution System, involving the rehabilitation, re-structuring and expansion of the system under a five-year Rehabilitate-Operate-Transfer (ROT) scheme, resulting in the reduction of system loss from 14.1 percent to 3.48 percent, and a total savings of PhP21.02 million within a period of nine (9) months (from July 2007 to March 2008) due to discounts on transmission rates, and reducing power outages in the Freeport from 34 in 2003 to only six (6) in 2008.

The Freeport's active workforce reaches a record-high of 87,502.

Lt. Joey G. Viray of the SBMA Law Enforcement Department (LED) is conferred the Civil Service Commission (CSC)'s "Pag-asa" Award at the Malacanang Palace during the celebration of the 108th anniversary of the Philippine Civil Service.

Seventeen (17) SBMA law enforcement officers are cited by the CSC-Zambales Provincial Office for their role in the discovery and seizure of 770 kgs. of shabu in the Freeport. Three (3) of them receive the CSC's "Gantimpala Agad" Awards, the reward component of the Commission's "Mamamayan Muna, Hindi Mamaya Na" program while the rest of the law enforcers receive commendations.

Data on vehicle count, as supplied by the Tollways Management Company through the Bases Conversion and Development Authority (BCDA), show a total of 25,300 vehicle arrivals in Subic upon the opening of the Subic-Clark-Tarlac Expressway (SCTEX) during the Holy Week. Vehicle arrivals via the SCTEX increase further in December when more than 38,000 vehicles are recorded from December 26 to New Year's Eve.

The SBMA's Subic Bay booth bags two (2) tourism awards: the Top Marketing Award at the Second Philippine International Tourism Fair (PITF) in Cebu City and the Best Booth design at the 19th Philippine Travel Mart (PTM) at SM Megamall, Mandaluyong City.

The 13.16-hectare New Container Terminal 1 with an annual capacity of 300,000 TEUs begins its operations under the management of the Subic Bay International Terminal Corporation (SBITC).

The SBMA signs up Subic Neo-Cove of South Korea, which proposes to establish a 400-hectare integrated resort with a 72-hole golf course in Cawag, Subic, Zambales, with project costs of US$0.3B and US$1.0B for Phase 1 and 2, respectively.

The SBMA hosts the 10th International Network of Affiliated Ports (INAP '08) general assembly at the Subic Bay Exhibition and Convention Center.

With President Gloria Macagapal Arroyo among the distinguished witnesses, HHIC-Phil launches the first container ship built in the country, some two years after establishing itself in the Subic Bay Freeport.

The Subic Bay Metropolitan Authority (SBMA) surpasses its 2007 investment target of US$5.0 billion, as total committed investments reach US$5.4 billion, resulting in a 135 percent increase from its 2005 level.

The number of registered companies in the Freeport increases by 33.6 percent from its 2006 level.

The Freeport's export revenues experience an impressive growth rate of 40.60 percent, reaching a total of US$971.74 million, as against the previous year's US$691.15 million.

The SBMA completes the construction of Phase 1 of the Subic Bay Port Development Project, which is one of the three (3) big ticket infrastructure projects for the integrated development of the Subic-Clark area into an international logistics hub.

Philip Morris International of Switzerland selects SBF as the site of its US$20-million regional leaf tobacco distribution center.

Total active workforce in SBF breaches the 75,000-mark.

HHIC-Phil expands its investment in SBF by an additional US$684 million.

The SBMA implements antidotal measures to curb smuggling.

President Arroyo signs Executive Order No. 673, "amending Executive Order No. 340, Series of 2004, to provide for the compensation of the Chairman of the Subic Bay Metropolitan Authority [SBMA].

The SBMA builds one of the country's biggest MICE (Meetings, Incentives, Conventions and Exhibits) facilities, the Subic Bay Exhibition and Convention Center, with the 20th Philippine Advertising Congress as maiden event.

President Arroyo inaugurates the US$22.5 billion Subic-Clark-Tarlac Expressway, cutting down travel time from Manila to Subic by at least 30-45 minutes.

Subic Bay becomes a major player in the region's containerized transport industry with the completion of the New Container Terminal 1 (NCT 1). With the new facility, the Port of Subic's containerized cargo capacity increases from 125,000 TEUs to 300,000 TEUs per annum.

The SBMA turns over NCT-1 facility to its concessionaire, the Subic Bay International Terminal Corporation (SBITC).

President Arroyo signs Executive Order No. 675, "amending Executive Order No. 97-A, dated June 19, 1993, by extending the secured area enjoying the tax and duty free privileges to the Subic Special Economic and Free Port Zone, as defined Proclamation 532 dated February 1, 1995".

The Subic Bay Metropolitan Authority (SBMA) tops the list of Philippine investment promotion agencies (IPAs) after generating 45 percent of the country's total foreign direct investments (FDIs) inflows for the first and second quarters of the year.

President Gloria Macapagal-Arroyo declares the Subic Bay Freeport as a major component of the Metro Luzon Beltway, a super-region that is envisioned to become a globally competitive urban, industrial and service center.

Korea's Hanjin Heavy Industries and Construction Company-Phil (HHIC-Phil) pledges an investment of US$1.0 billion and a projected employment of 30,000 direct and indirect jobs for the development and construction of the world's second largest shipyard at the Redondo Peninsula, Subic Bay Freeport Zone.

President Arroyo issues Executive Order No. 588, "strengthening the ship-building and ship repair sector and instituting measures to promote its growth and development", and providing for the establishment of an Ad Hoc Committee with the SBMA as among its members, "to immediately formulate a comprehensive development plan for the ship building and ship repair sector."

The Subic Bay Metropolitan Authority, the Clark Economic Development Corporation and the Economic Processing Zone in Taiwan sign a memorandum of understanding for the RP-Taiwan Economic Corridor.

The Freeport successfully serves as the venue of four (4) events of the 23rd South East Asia Games - namely archery, triathlon, canoe/kayak and sailing.

President Gloria Macapagal-Arroyo appoints Francisco H. Licuanan and Alfredo C. Antonio as SBMA Chairman/Head of Agency and SBMA Administrator, respectively.

President Arroyo issues Executive Order No. 384, empowering a senior official of the Subic Bay Metropolitan Authority to combat violations of Customs laws at the SBMA area.

President Arroyo issues Executive Order No. 340, "reorganizing the Board of Directors of the Subic Bay Metropolitan Authority [SBMA] and defining the powers, functions and duties of the Chairman of the Board of Directors and the SBMA Administrator".

President Arroyo appoints Commo. Feliciano G. Salonga and Armand C. Arreza as SBMA chairman and SBMA administrator, respectively, in view of the resignation of SBMA Chairman Licuanan and the appointment of SBMA Administrator Antonio to the Monetary Board.

President Arroyo announces the inclusion of Subic-Clark in her 10-Point economic development agenda.

Construction of Phase 1 and 2 of the Subic Bay Port Development Project begins. The project envisions to decongest the Port of Manila by servicing the cargo needs of Central and Northern Luzon, and potentially contribute in filling the capacity shortage (14 million TEUs) projected for Southeast Asia.

The SBMA receives its ISO 9001-2000 Certificate of Excellence for Investor Servicing and Locator Assistance (ISLA).

President Gloria Macapagal-Arroyo formally approves the Subic Clark Alliance for Development.

The national government declares the commercialization of Malampaya as a natural gas resource.

Shell Philippines Exploration and Halliburton International starts constructing a concrete gravity structure at the Freeport's Redondo Peninsula to be used as Natural Gas Field at Palawan Island.

The Subic Bay Freeport becomes a bustling trade and tourism center, generating thousands of jobs and US$ 2-billion worth of investments in a span of four (4) years.

The Subic- Tipo road is constructed in anticipation of the Asia-Pacific Economic Cooperation (APEC)'s leaders' summit in the Freeport.

The Freeport witnesses a gathering of 18 APEC leaders and heads of state, including US President Bill Clinton, as the site of the Fourth Asia-Pacific Economic Cooperation (APEC).

President Fidel V. Ramos signs Proclamation No. 532, delineating the metes and bounds of the Subic Special Economic and Freeport Zone.

President Ramos inaugurates the Subic Bay International Airport. Fedex starts operating its Asia-One-Hub in the zone, as ACER Inc. puts up its motherboard production plant at the Subic Bay Industrial Park.

More foreign investors, pledging a total of US$314 worth of investments, move to the Subic Bay Freeport. Leading the pack are American courier Federal Express, the Subic Bay Metropolitan Authority (SBMA)-Taiwanese partner Subic Bay Development and Management Corporation, and Subic Telecommunications Co., a partnership between US firm AT&T and RP's PLDT.

Enron Subic Power Corporation invests US$115 million to operate the power plant left by the US Navy.

The Freeport's first year closes with 33 investors, committing a total of US$ 360 million worth of investments.

The Subic Bay Freeport is created through an act of the Philippines Congress known as Republic Act No.7227, or the Bases Conversion and Development Act, with Section 13 of the new law providing for the creation, mandate and functions of the Subic Bay Metropolitan Authority (SBMA) as the government's implementing agency to manage the former US naval base.

The eruption of Mt. Pinatubo brings unprecedented devastation in the province of Zambales, including the former US naval facility and its environs.

The last troops of the US Navy pull out of Subic aboard the USS Belleauwood, a couple of months after President Ramos's approval a US$ 350-million initial fund to start the base conversion.