“Japanese and Filipinos have always had an active relationship – the history we share is rich and deep.… the Authority of the Freeport Area of Bataan (AFAB) is… excited to show you how we have taken positive steps to continue making history together again. This time, with you taking part in the first OBFTS Freeport in the world.”
These were the statements of AFAB Administrator Emmanuel D. Pineda to the attendees of the virtual conference held by GICC-Impero Japan on 21 April 2021. Admin Pineda also shared with the attendees the passage of Republic Act No. 11453 also known as “An Act Further Strengthening the Powers and Functions of the AFAB”, which provided additional capabilities to the FAB to develop emerging digital economies through blockchain, distributed ledgers and financial technology solutions.
Meanwhile, Bataan Governor Albert S. Garcia also attended as the keynote speaker at the said virtual conference where he shared the great contribution of AFAB to the continued development of Bataan province.
According to the governor, “In a little over a decade of administration, the Authority of the Freeport Area of Bataan (AFAB) has brought in major developments in the FAB in terms of infrastructure, employment generation, business facilitation systems and investments”.
With the registration of offshore Financial Technology (FinTech) Companies in the Freeport Area of Bataan (FAB), continued growth of the Offshore Blockchain Financial Technology Services (OBFTS) industry is expected. More jobs and development for Bataenos will also be on the rise.