MARIVELES, Bataan — The Authority of the Freeport Area of Bataan (AFAB) recorded remarkable improvements in its operational performance this year despite the tremendous challenges brought about by the pandemic caused by the coronavirus disease.
This, Engr. Emmanuel Pineda, AFAB administrator, highlighted Wednesday during his fifth State of the Freeport Address at the auditorium of the AFAB administration building.
He said that as of August 2022, there are 96 registered enterprises operating at the Freeport Area of Bataan with 37,261 employment generated.
Under a new law, FAB can operate not only in Mariveles but also in the rest of 10 towns and one city in Bataan. Approved and soon to operate are 17 expansion areas.
FAB, the former Bataan Export Processing Zone turned into the Bataan Economic Zone, as of August 2022 recorded board-approved investments in the amount of P935 million, export value worth $571.2 million, port revenue of P571 million, and P392-million budget allotted for infrastructure projects.
“More than these numbers and results, it is the FAB’s people that should be honored and recognized, as the freeport’s milestones over the years were the product of the joint efforts of every member of the FAB community,” Pineda said.
In his SOFA, the administrator stressed AFAB’s action plan termed as “SOFT HEART” or socially relevant, operationally viable, financially feasible, technologically advanced – housing, expansion areas, accessibility, renewable energy and transportation.
Pineda said the action plan has served as AFAB’s fundamental guiding principle in its pursuit of lasting growth and development that contributed to the freeport’s present progress and success.
“When I first laid down this action plan in 2016, I knew that our pursuit was no longer solely about investment generation. Yes, the financial returns remain to be an essential aspect of any venture, but the AFAB has then begun to think about other equally important bottom lines… the people, the planet, and the economy,” the administrator said.