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AFAB welcomes new investors from various industries

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MARIVELES, Bataan: The Authority of the Freeport Area of Bataan (AFAB) is paving a way to a new economic era in line with the goals and aspirations of President Ferdinand Marcos, Jr. for the country.

AFAB information officer Faye Arceo said Monday that AFAB administrator and CEO Mohammed Hussein P. Pangandaman welcomes new investors to the Freeport Area of Bataan (FAB) in Mariveles like what the President in his trip to Melbourne, Australia and visit to other countries did to attract more investments in the Philippines.

Arceo said Pangandaman led the AFAB towards convincing new investors from a wide range of industries to the Freeport Area of Bataan (FAB). Companies in fintech, blockchain, gaming, and defense are now among 35, she said, that have already submitted letters of intent to locate in the last 10 months.

She noted that redevelopment has also begun in the FAB Main Zone that allocated space for a central business district, developing the Mattel beachfront, and reviving its long-dormant golf course.

“The potential of these developments will be highlighted, with the anticipated completion of the Bataan-Cavite Interlink Bridge, a major infrastructure project of the Marcos Administration that will connect the Province of Bataan to strategic economic spots in southern Luzon,” Arceo said.

Latest report shows that 10 out of 17 registered Freeport Expansion Areas scattered across the province have already started operations.

“Through the administrator’s leadership, the FAB is certainly on its way to becoming a globally competitive Freeport and a dynamic investment hub for diverse industries and sustainable employment as he actively participates in robust business partnerships and collaborations,” Arceo said.

Pangandaman joined the President in the Philippine Business Forum and Presentation of Business Agreement held in Melbourne last March 4 where Marcos asked the Australian business community to invest in the Philippines.

President Marcos invited the businessmen to come and experience the country’s new economic era and as a reliable partner in expanding business and operations. The Chief Executive considered the private sector as a significant partner in progress and development. (30)

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