MARIVELES, Bataan: The Authority of the Freeport Area of Bataan (AFAB) that operates the Freeport Area of Bataan (FAB) here showed a dynamic transformation and progress under the management of AFAB administrator and Chief Executive Officer Hussein Pangandaman as 2024 ends.
This, AFAB chief Information Officer Hazel Keith Elloren and Information Officer Faye Arceo briefly discussed to local reporters.
Pangandaman assumed leadership of the AFAB in May of 2023.
Presently, FAB has 155 registered enterprises and 17 expansion areas outside Mariveles. From 38,171 workers in May 2023, the number grew to 41,061.
Total committed investment rose to P17.3 billion coming from business activities like manufacturing, realty development, software development, IGL – master license and from expansion areas.
An export value of US$1.4 billion was recorded.
Elloren and Arceo explained that since Pangandaman assumed management, AFAB’s financial trajectory has recorded substantial improvement that highlighted not only AFAB’s financial resilience but also the effective strategies implemented under his leadership.
In 2023, FAB contributed P80 million to the national government revenue stream, the highest dividend AFAB has remitted since its inception in 2010, they said.
Pangandaman, they said, wants a freeport that is globally competitive and a dynamic investment hub for diverse industries and sustainable employment by 2028.
A number of infrastructure projects are presently in the pipeline. The facilities aim to help build an environment of a smart and sustainable freeport, allowing FAB community to enjoy an active work life.
The 14.87 hectares golf course will be revived to help spur commercial and tourism activities in the area.
A central business district and boardwalk is planned and programmed for redevelopment to further realize the aim of promoting work – life balance while at the same time further diversifying the investment portfolio of FAB,” the information officers said. (30)
