SUBIC BAY FREEPORT ? Top officials of the Subic Bay Metropolitan Authority want to grab a share of the growing industry of retirement-tourism and turn this freeport into a haven for foreign retirees.

The Philippine Retirement Authority and the SBMA recently signed a memorandum of agreement with the Subic Bay Freeport Chamber of Commerce to market and position the freeport as a prime retirement facility.

The agreement paves the way for the integration of marketing and promotional activities, including information dissemination, public relations, special events and other retiree-related tourism programs to maximize Subic?s market reach.

?The Philippines has almost all the advantages ? climate, manpower, culture and services ? to outmatch other Asian nations in the retirement business, especially since Filipinos are known worldwide for being highly efficient and professional,? said PRA chair Edgar Aglipay in a statement.

SBMA Administrator Armand Arreza said the freeport has world-class retirement facilities, including the Subic Holiday Villas, a leisure and retirement village that can accommodate up to 500 retirees and their families.

Other similar facilities here include the Subic Holiday Mansion, the Tropical Paradise Retirement Village, Subic Heights at the Upper Mau Area, Subic Bay Leisure and Resorts at the Boton Area, the Subic Executive Loft Condominium and Poco A Poco at the Subic Commercial Park.

These retirement communities can accommodate retirees mainly from Japan, Korea and Taiwan, Arreza said.