This is his gift to the people of Bataan during the inauguration of the Bataan Government Center and Business Hub or locally known as the Bunker
BALANGA CITY, Bataan — President Rodrigo Roa Duterte has signed Republic Act 11453, which will extend the range of the Freeport Area of Bataan (FAB) in Mariveles.
The President said that the primary provision of RA 11453 is to amend Republic Act 9728, or the Freeport Area of Bataan Act of 2009, wherein it will further span an area from its 1,742.58 hectares of land mass to rivers and coastal areas of Mariveles.
This will include areas in Mariveles that are seen as potential sites for shipbuilding, shipping, barging, stevedoring, cargo handling, hauling, warehousing, cargo storage, and port services such as creation of piers and wharves.
He added that this is his gift to the people of Bataan during the inauguration of the Bataan Government Center and Business Hub or locally known as the Bunker in Balanga City.
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This move will pave way to more investors due to the FAB’s autonomy, opening more opportunities for investors to locate in the area, as well as entice businesses in the research and development sector, engineering, medical, education and information and communications technology.
It will also spearhead the entry of new generation of technologies, including artificial technology, blockchain, business process outsourcing, cloud computing, cyber security, distributed ledger technology, financial technology solutions, Internet and virtual reality.
Included in the provision of the extension of FAB is the development of sunshine industries such as tourism, retirement, healthcare services, agro-industrial banking and financial.
Governor Albert Garcia thanked the President for the signing of the republic act, adding that this would provide more opportunities for the people of Bataan to uplift their lives.
He also stated that this coincides with Vision 2020 of the provincial government that aims to make Bataan the forerunner in the Human Development Index in the country.
Aside from the many possibilities of the extended FAB area, part of Republic Act 11453 is the five percent tax rate from the gross income rate of investors in FAB.
This would mean that one percent of the gross income rate of investors will be given to the national government, one percent to the provincial government of Bataan, one percent to the town of Mariveles and the remaining two percent to be used by FAB.
