AFAB’s committed investment: P114.8B

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  • Greg R.
  • 4 years ago

MARIVELES, Bataan – The Authority of the Freeport Area of Bataan (AFAB) has now a grand total registered investment of P114,867,495,639.
This was gleaned from the full and comprehensive report by AFAB Chair Engr. Emmanuel D. Pineda in his “State of the Freeport Address” Tuesday afternoon at the Oriental Convention Center here. Pineda reported the Freeport Area of Bataan has a total of 163 approved locators today from the previous year’s 146.
“The AFAB inherited 39 enterprises in 2010, this growth represents a 235.90 percent,” Pineda said.
He said out of 96 operating locators in the FAB as of 2018, 60 of them are Filipino-owned, the remaining are Koreans, British, Japanese, Bahraini, German, and Taiwanese.
Affordable housing and expansion programs are now in the drawing board to further lure workers and investors.
Earlier this year, Pineda said the Freeport welcomed the opening of the newest hotel in the FAB, the Casa Veles Hotel and Restaurant, a three-story, 22-room hotel with its own cafe-style dining area.
He also disclosed that plans are now afoot to build a FAB Central Business and financial center. The project intends to reclaim 12.5 hectares to build seaport and fisherman’s hub, transportation hub, and mixed-use commercial retail strip mall, and other amenities.

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