Only AFAB attracts more foreign investments

Written by
  • Greg R.
  • 5 months ago

The Authority of the Freeport Area of Bataan (AFAB) had attracted more foreign investments in the first quarter of 2021with projects worth P39.4 million up from P900,000 a year ago.
The Philippine Statistics Authority (PSA) latest report on approved foreign investment showed that the end March investment pledges registered by the country’s seven investment promotion agencies (IPAs) dropped by 32.9 percent from P29.14 billion a year ago,

PSA data showed that only the AFAB attracted more foreign investments in the first quarter compared to other IPAs like the BOI, Clark Development Corp., Cagayan Economic Zone Authority, the Philippine Economic Zone Authority and Subic Bay Metropolitan Authority which posted year-on-year declines.

AFAB at present has more than 90 locators engaged in manufacturing, electronics, garments, bags, and face masks making.

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