Olongapo City Businessman and entertainment mogul Dr. Arnold L. Vegafria has announced his plans to rejuvenate Olongapo City’s entertainment sector, aiming to restore its former glory as a premier entertainment hub in the country. Speaking before stakeholders at the Palace Hotel on Friday night, Vegafria recalled how the city thrived in the 1970s and 1980s, particularly catering to U.S. military personnel stationed at the former Subic Naval Base.
Vegafria, who grew up in Olongapo, emphasized the lasting economic impact of the U.S. bases and the role of the Subic Bay Metropolitan Authority (SBMA) in sustaining economic activity even after their closure. He noted that duty-free shopping, business investments, and tourism have kept the local economy afloat but stressed the need for new initiatives to drive further growth.
Determined to give back to the city that shaped him, Vegafria vowed to lead efforts in revitalizing Olongapo’s economy, starting with rebuilding its tourism and entertainment industries. However, he acknowledged that significant investments from both local and foreign investors are necessary to inject fresh capital and stimulate economic expansion.
His vision includes transforming Olongapo into a top entertainment destination, akin to Las Vegas, by developing hotels, casinos, music clubs, concert halls, theaters, and other attractions. He also outlined plans to redevelop major city roads—Magsaysay Drive, Rizal Avenue, and Barretto—to ease traffic congestion and enhance accessibility.
“Our first major step in rebuilding Olongapo’s economy is to restore the structures that will breathe new life into its tourism industry,” Vegafria said. He remains optimistic that with the right investments and collective effort, Olongapo City can reclaim its status as the country’s entertainment capital.