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Subic Bay is surrounded by the town of Subic and Olongapo City,
both in the province of Zambales. Also in the bay are Grande
Island, once home to Fort Wint, and was later turned into a rest
and recreation island for the U.S. Seventh Fleet. Development of
Olongapo City was largely tied to the presence of the United
States Navy base at Subic Bay, once the largest U.S. military
naval base in Asia. An arsenal and ship-repair facility was
established at Subic Bay in 1885 by the then colonial power,
Spain. Following the Spanish-American war, Subic Bay became a
U.S. Navy and Marine base, and grew to be a major facility.
Until 1991, it was the base of the United States 7th Fleet.
Subic Bay, the Philippines' first free port, continues to be one
of the country's major economic engines with more 700 investment
projects, including the 4th largest shipbuilding facility in the
world (Hanjin Heavy Industries and Construction (HHIC)).
Following its successful transformation from a military facility
to a premier investment haven, Subic Bay Freeport has now
reached its crossroads as it takes on the challenges of
increasing global competitiveness. Currently upgrading its
strategic port facilities through the Subic Bay Port Development
Project and forging ties with its equally-viable neighbor, the
Clark Special Economic Zone in Pampanga to form the Subic-Clark
Corridor via the 45-kilometer Subic-Clark Toll Road, these once
bastions of western military might are now being positioned to
become the most competitive international service and logistics
center in Southeast Asia. |
