The Authority of the Freeport Area of Bataan (AFAB) once again held its fifth State of the Freeport Address (SOFA), delivered by AFAB Administrator Emmanuel D. Pineda last 05 October 2022 at the Auditorium of the AFAB Administration Building, Mariveles, Bataan.
As his 6-year term comes to close, Administrator Pineda recounted the Authority’s recent and past accomplishments that led to the Freeport’s present progress and success. He emphasized how AFAB’s action plan, SOFT HEART (Socially relevant, Operationally viable, Financially feasible, Technologically Advanced – Housing, Expansion areas, Accessibility, Renewable Energy, and Transportation), has served as the AFAB’s fundamental guiding principle in its pursuit of lasting growth and development.
“When I first laid down this action plan in 2016, I knew that our pursuit was no longer solely about investment generation. Yes, the financial returns remain to be an essential aspect of any venture, but the AFAB has then begun to think about other equally important bottom lines… the people, the planet, and the economy,” the Administrator said.
Despite the tremendous challenges brought about by the pandemic, the AFAB was able to record remarkable improvements in its operational performance so far this year with the following data as of August 2022:
- 96 operating FAB Registered Enterprises (FREs),
- 17 FAB Expansion Areas (FEAs),
- PhP 935 million board-approved investments,
- 37,261 employment generated,
- $571.2 million worth of export value,
- PhP 571 million recorded port revenue, and
- PhP 392 million budget allotted for infrastructure projects
More than these numbers and results, Admin Pineda affirmed that it is the FAB’s community’s people that should be honored and recognized, as the Freeport’s milestones over the were the product of the joint efforts of every member of the FAB community.
“Maraming salamat po sa inyong lahat na naging kabahagi ko, ng buong FABulous family ng AFAB at FAB sa napakabuluhang paglalakabay na ito,” he added.
Over 100 guests from various national government agencies, investment promotion agencies, FAB registered locators, civic organizations, and academe representatives attended the SOFA.