By undertaking resolute actions in the face of the unfolding events of the pandemic, the Authority of the Freeport Area of Bataan (AFAB) was able to sustain the tempo of its work to keep the businesses in the Freeport moving.
As a result of this, it has noted a total of 96 operating FAB Registered Enterprises (FREs) as of August 2022, yielding a 12% increase in comparison to the same period in 2021.
While manufacturing remains to be the leading industry in the FAB, more investors are bringing in businesses that diversify the Freeport’s employment opportunities, thereby boosting the skills of its workforce. Moreover, multinational enterprises from various countries continue to thrive, grow, and even expand in the FAB, whereas the majority of the operating remains to be Filipino-owned.
Among the notable and new industries locating in the FAB so far this year are Information and Communication, Financial Technology and Blockchain, and Security and Defense.
Having said this, the AFAB is eager to infuse new energy into expanding the economy and trade by leveraging on Republic Act No. 11453, otherwise known as, “An Act Further Strengthening the Powers and Functions of the Freeport Area of Bataan”, which enables the AFAB to expand in different towns of Bataan.