AFAB board approves over P900M investments

FREEPORT AREA OF BATAAN — The Authority of the Freeport Area of Bataan Board has approved P935-million worth of investments since the start of this year up to August, according to its administrator Emmanuel Pineda during his State of the Freeport Address on Wednesday.

Pineda said that the P935-million investment this year has increased the overall investment tally to P130.38 billion since the start of his administration in 2016, citing that a P3-billion investment project was already endorsed to the Fiscal Incentives Review Board.

He added that AFAB was included among the IPAs that generated foreign investments in the second quarter of 2022 as recorded by the Philippine Statistics Authority.

“The AFAB has also interacted with dozens of interested investors since the start of the year, further proof that it is starting to get back on track. Two of these are power-generating projects that if realized would pour in nearly P50-billion pesos into the FAB,” Pineda said.

“This year has also seen us attend and participate again in high-level conferences and business missions with countries such as the United Arab Emirates, and the United States of America. We also received inbound missions from Australia and New Zealand,” he added.

Meanwhile, the Freeport’s workforce has a solid 37,261 workers this year due to the agency’s diligent hard work in enabling unhampered operations and ensuring that transactions progressed like it was business as usual.

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