The Authority of
the Freeport Area of Bataan (AFAB) will mark the fifth anniversary of the
passage of Republic Act (RA) 9728, the law that created the Freeport Area of
Bataan (FAB) and the AFAB, and celebrate its success with the conduct of
various programs for its locators and key stakeholders in October.
“This year, we
are not just celebrating the passage of RA 9728, but we are also acknowledging
the achievements and the success of the AFAB over the last five years. The
Authority will not succeed without the help of our locators and stakeholders,
thus this year’s anniversary celebration will serve as our way to thank them,”
AFAB Chairman and Administrator Deogracias G.P. Custodio said.
As part of the
anniversary celebration, the AFAB prepared four major events that involve the
participation of all stakeholders and locators in the freeport. One of the
highlights of the month-long celebration is the Stakeholders’ Night, where the
Authority is set to honor locators and key institutions and individuals who
help made the FAB the fastest growing freeport that it is today.
FAB locators,
collegiate schools, including the Polytechnic University of the Philippines and
Sofnet Information Technology Center, and local government units were also invited
to join the FAB Sportsfest. Events in this league are basketball, volleyball
and chess.
Meanwhile, to
give back to the community, the Authority will conduct a two-day livelihood
training seminar for Mariveles residents. Crash courses on fish and meat
processing and novelty item making will be held at Barangays San Carlos and
Alas-asin.
Moreover, a
photo essay competition will be conducted to feature the developments in the
freeport.
“I hope that our
locators and stakeholders will enjoy this year’s celebration. The Authority is
expecting their full participation in the events,” Chairman Custodio noted.
FAB
at Five: A Glimpse of FAB’s success
Due to the
sudden surge in its foreign direct investments, the FAB has been recognized as
the fastest growing Freeport in the country by the National Statistics
Coordination Board in 2012 and 2013.
“Since the
Authority took over operations from the Bataan Export Processing Zone, it was
able to increase the number of locators by nearly 236%, from 39 in 2010 to 92
in August this year. The AFAB is also luring more foreign investments. These
are among the reasons why the FAB was tagged as the fastest growing freeport in
the country,” Chairman Custodio said.
This year, the
FAB is also on track to becoming the fastest growing freeport anew. The
Authority generated nearly Php83,958,505,566.00 worth of investments in the
first half of 2014, over 138,000 percent higher compared to the Php60,550,00.00
pledges that it recorded in the same period last year.
With the
continuous increase in local and foreign investments, thousands of jobs were also
opened in the freeport. From the 12,777 freeport employees in 2010, the year
when the AFAB took over operations, the employment data increased to 18,543 in August
this year.
Today, the FAB
is known as one of the leading manufacturing hubs in the country. It possesses a budding cluster of companies producing
high-end brands of garments, apparel, shoes and accessories, like bags,
jewelries, among others.
DTI Undersecretary for the Trade and Investment
Promotions Group Ponciano Manalo Jr. recently
expressed confidence that the local supply chain and labor force competencies in the FAB are already
established.
“This
record-high investment pledges and noteworthy recognition proved that the
Authority works hard to contribute to the growth of the local economy and
generate more jobs for the people on the ground,” Chairman Custodio said.
“We assure the national government and the
locals in Bataan that we will continue to bring more investments in the region
and make sure that the economic growth is felt by the people,” he added.
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