FAB eyed as CBD within Subic-Clark corridor

FAB eyed as CBD within Subic-Clark corridor | Daily Tribune

MARIVELES, BATAAN — The Freeport Area of Bataan (FAB) is set to become a new Central Business District (CBD) within the Subic-Clark corridor.

During the Central Luzon Regional Development Council (RDC)-Sectoral Committee on Economic Development (SCED) meeting held at FAB, the council discussed plans to make the Freeport a CBD that is not just limited to manufacturing.

FAB has embraced industries such as Business Process Outsourcing, and with the Bataan-Cavite Interlink Bridge construction in the future, the council aims to boost the number of FAB investors and further develop the area.

According to Bataan Governor Joet Garcia, the council also plans to endorse the SCED to Senate Bill 2647 or “An Act Strengthening the Bases Conversion and Development Authority” that aims to convert and develop former military bases and government properties and create Special Economic Zones that will boost the economy of the country.

“The Central Luzon RDC will also establish a subcommittee for the Subic-Clark Corridor Development. The council plans to endorse or create an SCED resolution for additional funds for the DoST-Provincial Science and Technology Office to complete their office in Tarlac,” he said.

In 2019, the Subic-Clark Alliance for Development and the Authority of Freeport Area of Bataan signed a Memorandum of Agreement between SCAD and AFAB at the Oasis Hotel in Angeles City, Pampanga.

The MoA formalizes the partnership of SCAD and AFAB for the integration and interconnection of the Freeport Area of Bataan with the Subic-Clark corridor which will increase the number of companies inside FAB.

Meanwhile, Senator Juan Miguel “Migz” F. Zubiri said that the Senate Committee on Economic Affairs discussed bills related to the creation of a Special Defense Economic Zone (SpeDEZA) and proposed amendments to the FAB Act on Monday.

The senator discussed with government officials and stakeholders the planned SpeDEZA in Limay, Bataan, highlighting its potential synergy with the recently passed Self Reliant Defense Posture Bill.

He emphasized that establishing this economic zone would not only bolster the country’s defense capabilities but also attract significant investments in Bataan.

The senator, who previously served as Senate President, also pushed for updates to the FAB Act to keep pace with advancements in technology manufacturing. He stressed the importance of streamlining investment processes to make Bataan a prime location for both local and foreign investors.