Freeport Area of Bataan — The Authority of the Freeport Area of Bataan (AFAB) and the Philippine Retirement Authority (PRA) are collaborating to establish the Bataan Freeport as a retirement haven.

A Joint Memorandum Order (JMO) signed on 26 March at a resort in Mariveles formalized the partnership, aiming to streamline the issuance of the Special Resident Retiree’s Visa.

AFAB administrator and CEO Hussein Pangandaman and PRA general manager and CEO Roberto Z. Zozobrado signed the JMO at Camaya Coast, one of the FAB’s registered businesses.

“This is a fitting venue to showcase the FAB’s pristine coastline and lush greenery, presenting a great opportunity for tourism-related investments in the zone,” Pangandaman said.

The initiative seeks to attract foreign retirees looking to invest and settle in the Freeport Area of Bataan (FAB).

AFAB deputy administrator for Operations Michael Angelo G. Paderanga and PRA Department manager Antonio Rivera also attended the signing.

The partnership is expected to attract more foreign retirees, contributing to Freeport’s economic growth through investments. By expanding residency options and business incentives, AFAB and PRA aim to strengthen the FAB’s position as an emerging hub for foreign investments.