Bataan 2nd District Congressman Abet Garcia said that the law RA 11453 otherwise known as an “Act Further Strengthening the Powers and Functions of the Authority of the Freeport Area of Bataan (AFAB)” is a magnet attracting blockchain technology experts and investors to come to Bataan given the generous fiscal incentives available to them.
“With the law, AFAB as host can facilitate generous fiscal incentives for blockchain technology companies”, said the congressman.
RA 11453 was authored by then congressman Gov. Joet Garcia. “I authored the law creating AFAB, and then Gov. Garcia when he was in Congress made a law amending it the RA 11453, and now that I am again in Congress, I will propose another bill amending the FAB law to accommodate latest technologies like the blockchain and other possible amendments that would give due advantage to the Freeport and the province of Bataan”, the congressman disclosed.
The province of Bataan will truly benefit for one with a surge of people in the blockchain technology businesses in and out of the province, this will be a boost to our eco-tourism drive, we now have hotels that can accommodate them, and the province is very much ready to host conventions, the congressman added.
Garcia also said the people of Bataan will actually see the benefits of the technology that would ease the people’s way of living.
He cited with the use of blockchain technology the distribution of financial assistance to beneficiaries and stipend of scholars in the province can be made easier and convenient. Bataan hosted 2-day Global Blockchain Technology Summit.