FAB is Bataan’s economic engine-Gov. Abet

   “We are lucky here that we have FAB that can provide jobs for us”, he told attendees of the oath-taking of local tourism officers and launching of Ms. Bataan 2014. Garcia also said that Bataan is distinct for having two free ports. He reminded that almost 75 percent of Subic Freeport Zone belongs to the province.  

   Recent data from the National Statistical Coordination Board pegged FAB as the fastest growing freeport/economic zone in the country. As an emerging fashion manufacturing hub of the Philippines, it possesses a budding cluster of companies producing high-end brands of garments, apparel, shoes and accessories, like bags, jewelries, among others.

   Records show that the Authority of the Freeport Area of Bataan (AFAB) generated nearly P83.96 billion in committed investments in the first half of 2014, over 138,000 percent higher compared to the pledges that it recorded in the same period last year.

   “The AFAB already achieved its goal to exceed last year’s pledges. It’s just half of the year and we already surpassed the P2.1-billion worth of approved investments in 2013. This record-high investment pledges proved that AFAB works hard to contribute to the growth of the local economy and generate more jobs for the people on the ground,” AFAB Chairman and Administrator Deogracias G.P. Custodio earlier said.

   “We assure the national government and the locals in Bataan that we will continue to bring more investments in the region and make sure that the economic growth is felt by the people,” he added.

   A few years ago, Garcia then congressman of the 2nd district of the Province authored the conversion of the idle Bataan Economic Zone into FAB.