AFAB Signs MOA With BizLink
The Authority of the Freeport Area of Bataan (AFAB) signed a Memorandum of Agreement (MOA) with the TheBizLink Philippines Inc. last 26 September 2018 on the conduct of ecozone development projects and activities within the Freeport Area of Bataan. Signing was held at the Sapphire Room, Crown Royale Hotel, Balanga, Bataan.
Moreover, in connection with construction of IT/BPM AFAB and TheBizLink agreed to increase job creation and employment generation in the FAB through engaging in ecozone development activities such as construction, operation, and leasing out of commercial, logistics, manufacturing, and Information Technology/Business Process Management (IT/BPM) infrastructures for business activities and projects.
Signatories of the MOA include AFAB Chairman and Administrator Emmanuel D. Pineda, TheBizLink Philippines Inc. President and Chief Executive Officer Virgilio G. Pagulayan, AFAB Corporate Affairs Department Manager Eliza G. Calimag, and The BizLink Co. Ltd. Deputy Administrator for Operations President and Chief Executive Officer Beomjin Kim.
Undertakings enumerated in the MOA commit AFAB to allocate a total lot area of 284,602 square meters for BizLink’s proposed business and development activities. On the other hand, BizLink commits to invest an estimated amount of One Billion US Dollars (USD 1,000,000,000.00). Through the establishment of its businesses in FAB, BizLink also ensures the employment of ten thousand (10,000) labor force.
Moreover, in connection with construction of IT/BPM facilities, BizLink commits to set-up an Information Technology (IT) school in the FAB with a target of one thousand (1,000) graduates every year.
Last 05 June 2018, at a business forum organized by the Korea Federation of SMEs (KBIZ) in Seoul, Korea, AFAB accepted BizLink’s letter of intent declaring its intention to invest US$1Bn in various facilities and infrastructure projects and generate one thousand (1,000) jobs at the Freeport.
TheBizLink Philippines Inc. is a subsidiary company of The BizLink Co. Ltd., a renowned and reputable company in Seoul, South Korea, with participation in various types of businesses including consultancy services, technological development, and real estate and construction industry.