MANILA – The Authority of the Freeport Area of Bataan (AFAB) joined the Philippine Investment Promotion Plan (PIPP) Steering Committee tasked to further develop and harmonize investment promotion plans of freeports and ecozones in the country.
This was disclosed by AFAB Chairman and Administrator Deogracias G.P. Custodio in a statement released here on Wednesday.
He added that they joined the PIPP to help in promoting the Philippines as the investors’ destination of choice.
Other members of the steering committee include the Board of Investments (BOI), heads of the Philippine Economic Zone Authority (PEZA), Subic Bay Metropolitan Authority (SBMA), Cagayan Economic Zone Authority (CEZA), Zamboanga City Special Economic Zone (ZCSEZA), Aurora Special Economic Zone (ASEZA), Philippine Retirement Authority (PRA), Phividec Industrial Authority (PIA), BOI-Autonomous Region of Muslim Mindanao (BOI-ARMM) and the Bases Conversion Development Authority (BCDA).
In the first Steering Committee meeting, the members were requested to present their respective area.
Custodio said the FAB “is on the upswing”, citing more than 40 percent increase in locators.
He said the “intensified infrastructural developments to the low cost of electricity and water, the FAB is more than ready to accommodate further developments that the PIPP will bring.”
The PIPP is a medium term marketing development plan to synchronize strategies in investment promotion that will bring more foreign investments in the Philippines.
