Freeport Area of Bataan registers P14B in investments
THE Authority of the Freeport Area of Bataan (AFAB) has announced that it has registered P14 billion in investments, most of which came in since Administrator and Chief Executive Officer Mohammed Hussein Pangandaman assumed office in May 2023.
The San Miguel conglomerate led local locators with investments going into the expansion of their food processing and power generation plants.
Industrial mold and lamination producer GQ Horizon, specialty detergent maker Kirubai and safety apparel and harness manufacturer Surex Safe Venture led foreign locators with additional investments into their existing facilities.
The Freeport Area of Bataan (FAB) is also soon looking for an increase in its worker base.
In a recent interview, Korea-based sports and outdoor equipment manufacturer and FAB locator Dong In revealed that it was looking to hire 10,000 more workers.
Pangandaman shared that this year, AFAB is eyeing a significant increase in investments as Freeport now expands its focus to take advantage of its unique, game-changing Charter.
Pangandaman has personally led efforts to attract a wider variety of locators to FAB.
Companies in financial technology, blockchain, gaming and defense are now among 35 that have already submitted letters of intent to locate there.
At their main zone in Mariveles, Pangandaman has also begun redevelopment of the Freeport, allocating space for a central business district, developing its famed Mattel beachfront and reviving its long-dormant golf course.
The potential of these developments will be underscored with the anticipated completion of the BataanCavite Interlink Bridge.