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Investments in Bataan Freeport grow four-fold to P2.1 billion

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Locators at the freeport, which is closely situated with the Subic Bay Freeport, are engaged in manufacturing operations, BPO, energy, tourism and agri-industry. There are now a total of 70 existing locators within its sprawling 1,700 hectare industrial area mostly engaged in manufacturing operations.

FAB offers a lot of advantages to investors. It is only less than an hour away from Manila and host to numerous logistics advantages, including international airports, seaport, and entertainment establishments, the barging operations will surely promote/generate businesses in both side of the Manila Bay.

It offers fiscal incentives such as income tax holiday or 100% exemption from corporate income tax and five percent tax on gross income and exemption from all national and local taxes upon expiry of the income tax holiday.

Investors are also tax and duty free importation of raw materials, capital equipment, machineries and spare parts, exemption from wharfage dues and export tax, impost or fees, exemption from payment of any and all local government imposts, fees, licenses or taxes.

AFAB is a government owned and controlled corporation that was created by virtue of Republic Act 9728 or the “FAB Act of 2009.” The Freeport Area of Bataan (FAB) is located in Mariveles, Bataan and it is strategically located between the Manila Bay and the South China Sea. The FAB used to be the former Bataan Export Processing Zone, the first economic zone in the Philippines.

Its vision is to be the Freeport of choice in the country by 2020, becoming a center of trade, innovation and sustainable development in Asia. The FAB shall be a beacon for other emerging economic centers in the use of next-generation technologies and practices that will define the new model for the Global Freeport.

 

Source: http://www.mb.com.ph/investments-in-bataan-freeport-grow-four-fold-to-p2-1-billion/

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