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AFAB extends payment of rentals without penalty; export transactions back on track

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The Authority of the Freeport Area of Bataan (AFAB) announced through on-line that it has extended up to 30 days without penalty payment of water, power, and house/lot rentals.
Engr. Emmanuel D. Pineda, AFAB administrator, during the 3rd State of the Freeport Address (SOFA) speech heavy on expression of hope for better days to come and considerable accomplishments last Friday said “to further extend assistance, an amortization schedule was later issued to help alleviate the impact of community quarantine.”
The FAB enterprises’ and lessees’ rental payments are amortized up to March next year.

In terms of investment, Pineda said that the AFAB recorded a grand total of P105.2 billion as actual investment to date, according to 2019 to September 2020 report of the FAB’s enterprise department.

Pineda further reports, “With a variety of industries thriving in the FAB, its import/export activities are also testimonies to how active the business happens here.” Despite the low export activities brought by the lockdown from April to May, export transactions “are now back on track with an average of 1,276 transactions from June to August this year.”
As of August 31, 2020, the AFAB recorded a total export value of US$358.4 million. Pineda is hopeful more important infrastructure projects are going to be accomplished next year, given the improvement of business atmosphere in the Freeport.

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