MARIVELES, Bataan — Fifteen businessmen from Turkey on Wednesday visited here to study the possibility of investing in the Freeport Area of Bataan, formerly the Bataan Economic Zone.
Rep. Albert Garcia of the province’s second district and officials of FAB led by its chairman and administrator Deogracias Custodio welcomed the visitors.
“Our visitors are high-profile businessmen from Turkey who are looking for business opportunity in various industries like power, manufacturing and tourism. We are hoping that they will have direct investments here or partnership with our local businessmen,” Garcia said.
Garcia was the principal sponsor of the law creating the Authority of the Freeport Area of Bataan or AFAB about three years ago. He is chairman of the House Committee on Trade and Industry.
The congressman said he was informed by Irvan Karabulut, president of the Turkish Chamber of Commerce of the Philippines, that the visitors have investment capabilities ranging to $100 million.
“Sky is the limit ang investment kapag nandiyan ang opportunity,” Garcia said.
“Investors in the FAB are assured of cheap power and water and one of the best packages of incentives in the country,” the congressman said.
Karabulut said there are presently five Turkish investors in the Philippines with local partners. “We have not yet worked with Bataan but we are here to study that possibility,” he said.
A sisterhood agreement was forged between the Turkish Chamber of Commerce of the Philippines (TCCP) and the Bataan Chamber of Commerce and Industry. TCCP, AFAB and Kayseri Chamber of Commerce in Turkey led by chairman Ali Ezinc signed a memorandum of agreement of cooperation.
Business matching followed between the Turkish visitors and members of chambers of commerce and industry in Bataan, Tarlac and Bulacan.
FAB has presently 64 locators with 14,000 employees engaged in electronics and manufacturing of garments and textiles, leather luggage, handbags, foot ware, fiber glass, furniture and fixtures, rubber and plastic products and chemicals.
