Exec: AFAB secures P6.2-B investment pledges in 2015
HE Authority of the Freeport Area of Bataan (AFAB) in a statement yesterday said it had secured over P6.2 billion in investment commitments in 2015, covering 28 new business projects.
The investment pledges went into manufacturing, business process outsourcing (BPO) and information technology (IT), tourism, and power, the government entity said, adding that among the major locators are a manufacturer of high-end bag accessories, a food-processing firm, and businesses related to renewable energy and tourism development.
There are 114 registered locators in the Freeport Area of Bataan (FAB) as of December last year, AFAB said, adding that the newly registered locators will open about 4,900 jobs in the next three years. Sixteen more BPO companies will open in the first IT Technopark in the FAB, the statement also said.
The enterprises include Korean, Taiwanese, Chinese, American, Japanese, British, Bahrainese, French, and German businesses.
AFAB also said the freeport has become an emerging manufacturing hub targeting the fashion industry, with its cluster of companies producing garments, apparel, shoes, bags, jewelry, and other accessories.
Investors in the garments and leatherwear manufacturing to locate in the FAB. He also noted the freeport’s supply chain and labor force competencies are already established.