Republic Act 9728
An act converting the Bataan Economic Zone located in the Municipality of Mariveles, Province of Bataan, into the Freeport Area of Bataan (FAB), creating for this purpose the Authority of the Freeport Area of Bataan (AFAB), appropriating funds therefore and for other purposes.
The FAB vision is to be the freeport of choice in the country by 2020, becoming a center of trade, innovation and sustainable development in Asia promoting work-life balance and global competitiveness.
The AFAB shall achieve its vision by building a world-class freeport community with leading edge equipment and facilities. Its core values are sustainability, innovation and partnership.
Marketing: To ensure the retention of existing clients and attract new ones via cost efficient and value added services provided by the AFAB Ops/Tech: To provide the required support infrastructure that are well maintained, with 24 by 7 operability to meet locator demand.
Finance: To continuously be financially viable for the benefit of all stakeholders
Org & Mgt: To pro-actively adapt to the continuous changes in technology and manpower requirements
By Henry Empeño / Correspondent
MARIVELES, BATAAN—The Authority of the Freeport Area of Bataan (Afab) attracted more than P6.2 billion in investment commitments last year, consistent with its vision to become an “emerging economic dragon” in the country.
Afab Chairman and Administrator Deogracias Custodio said in a statement on Wednesday the P6.2-billion total came from 28 new business projects signed last year in the areas of manufacturing, business-process outsourcing, information technology, tourism and power.
The major locators include a manufacturer of high-end bag accessories, a food-processing firm, and companies engaged in renewable-energy projects and tourism development, Custodio said.
The newly registered locators will open at least 4,900 jobs in the next three years, he added.
Custodio said one of the new investors, the LKY Resorts and Hotels Inc., opened the first four-star hotel in the free port, the Oriental Hotel Bataan, after it renovated the historic Hilltop Hotel last year.
He added that 16 more BPO companies are slated to locate in the first IT Technopark that is being developed in the free-port area.
The free-port area of Bataan has been tagged as an emerging economic dragon after it maintained its status as the fastest-growing free port from 2012 to 2014.
Custodio said that, as of December last year, 114 business locators have already registered with the authority. These include Korean, Taiwanese, Chinese, American, Japanese, British, Bahrainese, French and German investors.
As it is, the free port is emerging to be the fashion manufacturing hub of the Philippines with its budding cluster of companies producing high-end garments, shoes, bags and jewelry, among others.
Custodio said the Department of Trade and Industry’s Trade and Investment Promotions Group has been encouraging investors in the garments and leatherwear manufacturing industry to locate in the Bataan free port.
In 2014 Afab recorded more than P84 billion worth of investments in just the first 10 months, as 17 new business projects signed up.
The bulk of the 2014 business commitments was from GN Power Mariveles Coal Plant Ltd. Co., which pledged P80 billion to build an additional 1,200-megawatt unit for the 600-megawatt Mariveles Power Plant.
FREEPORT AREA OF BATAAN