Bataan eyed as province-wide Freeport
The FAB in Mariveles is already in need of additional land areas, citing that the agency needs to expand to areas to ensure continuous economic gains for the province of Bataan.
Daily TribuneThe FAB in Mariveles is already in need of additional land areas, citing that the agency needs to expand to areas to ensure continuous economic gains for the province of Bataan.
BALANGA CITY, BATAAN — The Authority of the Freeport Area of Bataan is mulling the inclusion of the whole of Bataan as a special economic zone, according to AFAB Administrator Emmanuel Pineda.
Pineda said that by providing the tax incentives that the Freeport Area of Bataan and its FAB Expansion Areas are experiencing, companies investing in Bataan will increase as the agency has already expanded its authority over 17 areas inside the localities of Hermosa, Orani, Abucay, Balanga City, Limay and Bagac.
The FEAs were declared by virtue of Republic Act 11453, otherwise known as, "An Act Further Strengthening the Powers and Functions of the Freeport Area of Bataan".
Pineda said that the FAB in Mariveles is already in need of additional land areas, citing that the agency needs to expand to areas to ensure continuous economic gains for the province of Bataan.
Currently, one of the FEAs has been utilized as a defense and military-industrial economic zone thru the agreement between AFAB and the Government Arsenal and the agreement has declared the area in Barangay Lamao as a Defense Industrial Estate.
The area where the GA is located aims to manufactures basic weapons and ammunition for the Armed Forces of the Philippines and Philippine National Police, has an area of 370.371 hectares.
Pineda said that the two institutions aims to work in the establishment and operation of the FAB expansion area as a sustainable defense industrial base to encourage investors in defense projects to generate employment in the province as well as income for the government.
He added that the expected gains from the joint venture would also help sustain AFP's modernization program in line with the national policy of defense self-reliance.
Since its charter was amended in 2019, the Freeport was enabled to host and accommodate leading and emerging global industries to become more responsive to the demands of the international business market.
The FEAs have initiated the development of their respective zones to fast-track the commencement of their operations. Upon completion, 3,083 hectares of varying industry types will be able to accommodate new enterprises coming in, as well as the expansions of the Freeport's current FREs.
