MARIVELES, Bataan – An investor involved in making bags for computers and cameras recently invested P86 million at the Freeport Area of Bataan (FAB) here.
The Authority of the Freeport Area of Bataan (AFAB) announced on Monday that DeskTop Bags Philippines, Inc – a partner of the Luenthai International Group Ltd. (Luen Thai) – signed a Memorandum of Agreement (MOA), Registration Agreement and Contract of Lease with AFAB to manufacture computer bags, trolleys, CD bags, camera bags and other accessories.
“For its initial operations, DeskTop will generate around 600 job opportunities. At full capacity, DeskTop will employ around 2,000 workers,” said AFAB Chairman and Administrator Deogracias G.P. Custodio in a statement.
“We are glad about DeskTop’s decision to join the FAB family. DeskTop is a welcome addition to the growing number of AFAB partners that will help the AFAB to establish the FAB as the Future’s Answer to Business and to generate the much needed job opportunities for the residents of Bataan,” he added.
DeskTop is the first computer bag manufacturer to invest in the area. Custodio said aside from DeskTop, other manufacturers are set to locate in the FAB under the existing partnership between the AFAB and Luen Thai.
Under the MOA with Luen Thai signed last August 2011, the latter also plans to locate some of its production/manufacturing businesses including a textile mill operation at the FAB.
While there are clamors for Luen Thai to branch into other business ventures at the FAB – like the establishment of a hotel and restaurant facility – it has maintained its focus on expanding its core businesses related to the production of high quality luxury items.
Second District Rep. Abet Garcia said he had worked for the creation of the law creating AFAB in 2009 “to push progress not just in the FAB but in the entire province.”
Under the law, the investors will get to enjoy the incentives that FAB offers such as Income Tax Holiday (ITH) from four years to eight years; 5 percent tax in lieu of local and national taxes after ITH period;
duty free importation of capital equipment, raw materials, consumer goods and personal items; exemption from wharfage dues, export taxes, imposts and fees; domestic sales allowance of up to 30 percent of total sales; and special visas for investors.
