The Subic Bay Metropolitan Authority (SBMA; Filipino: Pangasiwaang Kalungsuran sa Look ng Subic^[1]) is a governmental agency of the Philippines.^[2][3] The SBMA has played a significant part in the development of the Subic Special Economic and Freeport Zone into a self-sustainable area that promotes the industrial, commercial, investment, and financial areas of trade in the zone as well as in the Philippines itself.

The area of jurisdiction of the SBMA includes the erstwhile U.S. Naval Base Subic Bay, parts of Redondo peninsula where the Subic Hanjin shipyard is located, and erstwhile US defence accommodations in the hills consisting of Binictican and Kalayan housing areas.^[4]

The agency is currently headed by Eduardo L. Aliño as of January 22, 2024. His predecessor as Chairman and Administrator from 2023 to 2024 was former Pandan, Antique mayor Jonathan Tan.

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 Republic Act No. 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.^{[citation needed]}

Richard Gordon, then the mayor of the City of Olongapo, became the first SBMA chairman.

Mayor Gordon with 8,000 volunteers took over the facility to preserve and protect US$8 billion worth of property and facilities when the last U.S. Navy helicopter carrier USS Belleau Wood sailed out of Subic Bay on November 24, 1992. They started the conversion of the military base into a freeport like Hong Kong and Singapore.^{[citation needed]}

On its fourth anniversary on November 24, 1996, Subic Bay hosted the leaders of 18 economies during the Fourth Asia- Pacific Economic Cooperation (APEC) Leaders' Summit. By that time, the emerging investment haven had already successfully attracted companies such as Federal Express, Enron, Coastal Petroleum (now part of Kinder Morgan), Taiwan computer giant Acer and France telecoms company Thomson SA to establish operations in the freeport.^[5]