SBMA Chairman and Administrator Roberto V. Garcia and VPA President for Economic Development Russel J. Held exchanged copies of the Memorandum of Understanding establishing an Alliance of Cooperation between SBMA and VPA on 05 March 2016 at the Virginia International Gateway Terminal in Portsmouth, Virginia, USA.
WASHINGTON, DC – The port authorities of Subic Bay and Virginia inked a cooperation agreement at a Virginia facility on March 5, the Philippine Embassy reported.
The Subic Bay Metropolitan Authority (SBMA) and Virginia Port Authority (VPA) established an Alliance of Cooperation a ceremony held at the Virginia International Gateway Terminal in Portsmouth, Virginia.
A Memorandum of Understanding was signed by Roberto V. Garcia, SBMA chairman and administrator; and John F. Reinhart, VPA CEO and executive director.
The MOU calls for information sharing to generate new business by promoting the all-water route between the Subic Bay Freeport and The Port of Virginia.
The Alliance will also explore joint marketing efforts, share non-confidential data that may be useful for developing the bilateral relationship of the ports, exchange relevant market studies explore opportunities for joint- or cross-training seminars and transfer technical or technological capabilities.
Garcia underscored the MOU’s importance to deepening the Philippines-US economic relationship.
Held hoped the MOU would allow the two ports to share best practices with each other and lead to job creation, tax space and the economic well-being of the communities outside the gates of the two ports.
At a meeting organized by the Virginia Beach Economic Development Office after the signing ceremony, Chairman Garcia and his delegation also met with Delegate Ron Villanueva, a Filipino-American member of the House of Delegates of the Commonwealth of Virginia, who is the Chairman of the House Committee on Transportation.
The initial idea for the alliance was emerged during a visit by a Virginia Beach delegation to SBMA. Olongapo City and Virginia Beach are sister cities.
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