AFAB contributes P233.1M to national coffers

Written by
  • Mhike R. C.
  • 2 years ago

The Authority of the Freeport Area of Bataan (AFAB) contributed PhP 233.1 million to the national government from its dividend and taxes collected in 2021.

In a news statement posted on AFAB’s official Facebook page, it stated that if broken down, AFAB remitted P73.5 million of this as part of its dividends, P23.2 million came from income tax and P136.3 million from other taxes.

“This success is the result of the combined diligence and dedication of the investors, workers, and management of FAB,” the AFAB management, led by Administrator Emmanuel Pineda, said.
“It is a testament that although the challenge to our economy caused by the pandemic continues, AFAB does not stop fulfilling its goal of providing meaningful assistance for the town of Mariveles and the province of Bataan.”

The Freeport Area of Bataan (FAB) is the only Freeport in the Manila Bay area, the Philippines’ center of trade. The FAB, considered the fastest-growing Freeport in the Philippines, is an ideal transshipment hub, strategically located at a prime transit point for domestic, regional, and global shipping.

It is 160 km away from Manila, the Philippines ’ capital, a 2 1/2 hour drive, a 55-minute boat ride, or a 25-minute flight.
The FAB is 90.6 km away from Subic Freeport, a short one-hour drive. Clark Freeport is 117km away from the FAB, a quick hour and a half’s trip by land. It takes less than 20 minutes to travel by air to these freeports from FAB.

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