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Former Subic Bay Metropolitan Authority Chairman Felicito Payumo passed away on October 20 at the age of 88
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Payumo served as SBMA chairman and administrator from 1998 to 2004 during the Estrada administration
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Payumo was known for privatizing Subic’s power distribution and opening the freeport to local businesses post-Asian Financial Crisis
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He initiated the development of Subic’s container terminal with financing from the Japan Bank for International Cooperation
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He also served as Bases Conversion and Development Authority Chairman (2011-2012) and Bataan representative (1987-1998)
Former Subic Bay Metropolitan Authority (SBMA) chairman and administrator Felicito Payumo passed away on October 20. He was 88.
Born on March 7, 1937, Payumo served as the top official of the Subic Bay Freeport from 1998 to 2004, succeeding Richard Gordon. He was appointed during the administration of then-President Joseph Estrada.
During his tenure, he oversaw the privatization of the freeport’s power distribution system, opened the zone to local enterprises following the 1997 Asian Financial Crisis, and secured Japan Bank for International Cooperation financing to develop Subic’s container terminal.
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Beyond SBMA, he also served as chairman of the Bases Conversion and Development Authority from 2011 to 2012, and earlier as representative for the First District of Bataan from 1987 to 1998, where he authored several key measures, including legislation on water well development.
In the private sector, Payumo was the former president of Engineering Equipment Inc. and later founded the University of Nueva Caceres-Bataan with lawyer Federico Pascual. As of early 2023, the university continued to list him in this role.
Payumo earned his Master of Business Administration degree from Harvard Business School and graduated cum laude with a degree in Economics from Ateneo de Manila University.
