The Authority of the Freeport Area of Bataan (AFAB) registered P14 billion in investments in less than a year and anticipates to attract more locators and the expansion of existing ones as it fully implements its new charter.
In a press statement, Mohammed Hussein Pangandaman, AFAB administrator and chief executive officer, said the Authority is looking to an increase its worker base, which at the end of 2023 stood at 40,895 of which 93 percent come from Bataan.
AFAB said 35 companies have submitted letters of intent to locate in FAB in the last 10 months.
Pangandaman is leading efforts to attract a wider variety of locators such as companies in fintech, blockchain, gaming, and defense, sectors now allowed to operate in FAB under its amended charter. Following the amendment to its charter five years ago, AFAB can now expand the types of economic activities allowed to operate at FAB, and can extend its physical area through the registration of other sites throughout Bataan.
In a report, AFAB said San Miguel Corp. (SMC) led local locators with investments into the expansion of their food processing and power generation plants.
Pangandaman also recently met with officials of SMC unit Petron Corp. which will register an additional FAB expansion area near its refinery in Limay.
AFAB said Navantia Group, a Spanish state-owned naval design and shipbuilding company, also discussed with Pangandaman investment opportunities within the FAB.
Industrial mold and lamination producer GQ Horizon, specialty detergent maker Kirubai, and safety apparel and harness manufacturer Surex Safe Venture have also committed additional investments into their existing facilities.
AFAb said Korea-based sports and outdoor equipment manufacturer Dong In disclosed it was looking to hire 10,000 more workers, as it plans to expand its operations at the Freeport.
“We’re certainly pleased with the investment commitments — it’s a show of confidence in the value of FAB as a Freeport,” Pangandaman said in a statement.
At the main zone in Mariveles, AFAB has begun redevelopment of the Freeport, allocating space for a central business district, developing its famed Mattel beachfront, and reviving its long-dormant golf course.
These developments will benefit from the Bataan-Cavite Interlink Bridge and other infrastructure projects.
AFAB said 10 out of 17 registered Freeport expansion areas across the province have begun operations. Under the AFAB’s new charter, locators in these FEAs enjoy the same benefits and incentives as those in the main zone in Mariveles.
“FAB lies at the end of the Roman Highway and the tip of the Bataan Peninsula, but — very soon — it will also be a destination in itself for business, and even for tourism,” Pangandaman said. Irma Isip
