Bataan freeport area gets P6.2-billion investment pledges in 2015
MARIVELES, Bataan — The Authority of the Freeport Area of Bataan (AFAB) has secured some P6.2 billion in investment commitments in 2015 as more investors expressed confidence in putting up their businesses at the Freeport Area of Bataan (FAB).
The investment pledges were poured into the industries of manufacturing, business process outsourcing (BPO), information technology (IT), tourism, and power.
Major locators include a manufacturer of high-end bag accessories, a food processing firm, and corporations with businesses related to renewable energy projects and tourism development.
Moreover, the LKY Resorts and Hotels Inc. also opened the first four-star hotel in the freeport, the Oriental Hotel Bataan, after it renovated the historic Hilltop Hotel last year.
Meanwhile, 16 more BPO companies will open in the first IT Technopark in the FAB and in Bataan that seen to generate at least 4,900 jobs in the next three years.
The FAB has been tagged as the emerging economic dragon of the country after it maintained its status as the fastest growing freeport from 2012 to 2014.
Ponciano Manalo Jr., former undersecretary of the Department of Trade and Industry’s Trade and Investment Promotions Group, is also encouraging investors in the garments and leatherwear manufacturing industry to locate in the FAB.
In his recent interviews, he emphasized that the FAB’s supply chain and labor force competencies are already established.
There are 114 registered locators in the FAB as of December last year.
The enterprises include Korean, Taiwanese, Chinese, American, Japanese, British, Bahrainese, French, and German businesses.
The FAB is the emerging fashion manufacturing hub of the Philippines as it possesses a budding cluster of companies producing high-end brands of garments, apparel, shoes, and accessories, like bags, jewelry, among others.
Its vision is to be the freeport of choice in the country by 2020, becoming a center of trade, innovation, and sustainable development in Asia and promoting work-life balance and global competitiveness.
Philippines News Agency