MELBOURNE, AUSTRALIA – Authority of the Freeport Area of Bataan (AFAB) Administrator and CEO Mohammed Hussein P. Pangandaman welcomed the invitation of the Office of the President (OP) to join President Ferdinand R. Marcos Jr. in the Philippine Business Forum and Presentation of Business Agreement held in Melbourne on Monday, 4 March 2024.
Together with legislative and business leaders from the different ASEAN member countries, Administrator & CEO Pangandaman attended the forum wherein the President urges the Australian business community to invest in the Philippines, inviting them to come aboard the country’s new economic era, positioning the country as a reliable partner in expanding business and operations.
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In his speech during the forum, President Marcos highlighted the private sector being a significant partner in progress and development. He cited the Philippine’s priority for the ease of doing business, exemplified by efforts to simplify tax payments, streamline regulations, and showcasing of unwavering support for businesses.
At least 12 business deals amounting to P86 billion or US$1.53 billion have been secured by President Marcos during the Philippine Business Forum at the ASEAN-Australia Special Summit, according to the Presidential Communications Office.
AFAB paves way to a New Economic Era
As Administrator and CEO Pangandaman follows through with the President’s goals and aspirations for the country, he leads the AFAB towards welcoming new investors from various industries to the Freeport Area of Bataan (FAB). Per latest data, the AFAB has already registered P14-B in investments, most of which came in since Administrator and CEO Pangandaman assumed office in May of 2023.
Pangandaman has personally led efforts to attract a wider variety of locators to FAB. Companies in fintech, blockchain, gaming, and defense are now among thirty-five that have already submitted letters of intent to locate in the last 10 months.
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Redevelopment has also begun in the FAB Main Zone, allocating space for a central business district, developing its famed Mattel beachfront, and reviving its long-dormant golf course. The potential of these developments will be underscored, with the anticipated completion of the Bataan-Cavite Interlink Bridge, a major infrastructure project of the Marcos Administration that will connect the Province of Bataan to strategic economic spots in southern Luzon. Latest report shows that 10 out of 17 registered Freeport Expansion Areas (FEAs) scattered across the province have already begun operations.
Through the AFAB Administrator and CEO’s leadership, the FAB is certainly on its way to becoming a globally competitive Freeport and a dynamic investment hub for diverse industries and sustainable employment as he actively participates in robust business partnerships and collaborations.