The Poro Point Freeport Zone used to house the former Wallace Air Station. However, the enactment of Republic Act 7227 (Bases Conversion and Development Act) on March 19, 1992 and Proclamation No, 216 on July 27, 1993 effectively transferred the stewardship of the Freeport to the Bases Conversion and Development Authority (BCDA) to facilitate its conversion into a productive economic growth center.
Then on 29 June 1993, former President Fidel V. Ramos issued Executive Order No. 103 establishing John Hay Development Corporation as a subsidiary and implementing arm of BCDA for Camp John Hay. This was subsequently amended to include the development of Wallace Air Station, thereby renaming it to John Hay Poro Point Development Corporation. It was under JPDC when the operation, management and development of the San Fernando International Seaport and San Fernando Airport were turned over to BCDA on 01 February 1997 and 01 February 1998, respectively.
On 3 October 2002, Executive Order No. 132 was issued renaming the John Hay Poro Point Development Corporation to John Hay Management Corporation as the implementing arm of BCDA over the John Hay Special Economic Zone, and at the same time, authorizing the creation of the PPMC. Thereafter, PPMC was registered with the Securities and Exchange Commission on 06 January 2003.
By 2028, the Poro Point Freeport Zone shall be an Innovative Economic Engine of Growth in the North.
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