September 16, 2025
Description:
Poro Point Management Corporation (PPMC), represented by its President & CEO, Atty. Felix S. Racadio was recognized and commended during the celebration of Government-Owned and Controlled Corporations (GOCC) Day at the Malacañang Palace on September 16, 2025.
President Ferdinand “Bongbong” R. Marcos Jr. presented the award to PPMC for its significant remittance of ₱11.06 million to the National Government. President Marcos with Executive Secretary Lucas Bersamin, Finance Secretary Ralph Recto, and Governance Commission for GOCCs (GCG) Chairperson Atty. Marius Corpus likewise graced the occasion. This recognition underscores PPMC’s significant contribution to nation-building and its ongoing role in promoting fiscal sustainability through sound and responsible corporate governance.
PPMC remains committed to achieving its mission of promoting the Poro Point Freeport Zone as an innovative economic engine of growth in Northern Luzon as it continues to advance initiatives that promote economic progress and development.
Photo and video courtesy of RTVM
The Poro Point Freeport Zone used to house the former Wallace Air Station. 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.
Gov. Joaquin L. Ortega Ave. (Formerly Pennsylvania Ave.) San Fernando City 2500, La Union Philippines
