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AFAB seeks media’s help to ‘court’ more investors

May 2, 2023 Christian D. Supnad 297 views

Offers tax privilege to locators

AFAB, Mariveles, Bataan – A top official of the Authority of Freeport Area of Bataan (AFAB) sought the help of media practitioners here to “court” and invite more investors to AFAB.

In a “Kapihan sa Media,” AFAB administrator Engr. Emmanuel Pineda told newsmen that AFAB will be the one to do the marketing once investors pour in their investments inside the state-owned AFAB.

“We will serve as their marketing agent, and aside from this support, they will be given in their five-year of operations tax-free; all their imported equipment is also tax-free,” pointed out Pineda.

Meanwhile, the Philippine Investment Promotion Plan (PIPP)-Technical Working Group (TWG), led by the Bureau of Investments (BOI), aims to plan its next steps in synchronicity towards positioning the country as a “prime investment destination.”

The group comprises 19 Investment Promotion Agencies (IPAs) tasked to formulate and develop strategies to position the country as among prime destinations for investments – each one having distinct locational advantages and offering attractive incentive packages, said in a statement by AFAB.

The IPA’s are divided into three (3) clusters based on the priority industries, geographic locations, and strengths, namely the Manufacturing and Logistics, Tourism, and Agro-Industrial.

The AFAB is clustered under the Manufacturing and Logistics Group along with the Bases Conversion and Development Authority (BCDA), Clark Development Corporation (CDC), Clark International Airport Corporation (CIAC), Subic Bay Metropolitan Authority (SBMA), Subic Clark Alliance for Development (SCAD), and Philippine Economic Zone Authority (PEZA); while Aurora Pacific EcoZone (APECO), Cagayan Economic Zone Authority (CEZA), John Hay Management Corporation (JHMC), Poro Point Management Corporation (PPMC), Tourism Infrastructure and Enterprise Zone Authority (TIEZA), the Tourism Promotions Board (TPB) under the Tourism Cluster; and the Mindanao Development Authority (MinDA) and Zamboanga City Special Economic Zone Authority (ZCSEZA) under the Agro-Industrial group.

The two-day activity started with a day-long meeting and ended with a factory tour at East-CAM Tech Corporation, a FAB-registered enterprise engaged in the business of manufacturing mountaineering bags.