DESPITE the fact that most businesses in the Freeport Area of Bataan (FAB) are still on their path to recovery, enterprises therein were able to maintain high employment or jobs generated so far this year, with 37,261 workers in the FAB, a top official revealed Wednesday.

FAB Administrator Emmanuel Pineda said this is a result of the Authority of the Freeport Area of Bataan’s (AFAB) diligent hard work in enabling unhampered operations and ensuring that transactions progressed like it was business as usual.

More than this, Pineda said, the AFAB has also helped these enterprises sustain their operations through targeted employment and worker programs. With this, the FAB has recorded a high regularization rate in Freeport, with 69.8% of workers already regularized.

“Although these figures are still below the heights we reached in the pre-pandemic years, they offer a glimmer of hope and promise. And, with our continued collaboration and hard work, this year could very well be the beginning of years of renewed employment growth,” Pineda remarked in his report.

With the continuous establishment of FAB Expansion Areas in different towns in Bataan, the employment rate in the FAB is seen to rise in the next years.

As his six-year term comes to a close, Pineda recounted the Authority’s recent and past accomplishments that led to the Freeport’s present progress and success.

He emphasized that AFAB’s action plan, “SOFT HEART” (Socially relevant, Operationally viable, Financially feasible, Technologically Advanced – Housing, Expansion areas, Accessibility, Renewable Energy, and Transportation), has served as the AFAB’s fundamental guiding principle in its pursuit of lasting growth and development.

“When I first laid down this action plan in 2016, I knew that our pursuit was no longer solely about investment generation. Yes, the financial returns remain to be an essential aspect of any venture, but the AFAB has then begun to think about other equally important bottom lines… the people, the planet, and the economy,” the FAB administrator said.

Despite the tremendous challenges brought about by the pandemic, the AFAB was able to record remarkable improvements in its operational performance so far this year with the following data as of August 2022:

• 96 operating FAB Registered Enterprises (FREs),

• 17 FAB Expansion Areas (FEAs),

• P935 million board-approved investments,

• 37,261 employment generated,

• $571.2 million worth of export value,

• P571 million recorded port revenue, and

• P392 million budget allotted for infrastructure projects

More than these numbers and results, Pineda affirmed that the FAB’s community should be honored and recognized, as Freeport’s milestones over the years were the product of the joint efforts of every member of the FAB community.

“Maraming salamat po sa inyong lahat na naging kabahagi ko, ng buong FABulous family ng AFAB at FAB sa napakabuluhang paglalakabay na ito,” he added.

Over 100 guests from various national government agencies, investment promotion agencies, FAB registered locators, civic organizations, and academe representatives attended the SOFA.