Bataan port sees 13% hike in investments
The Authority of Freeport Area of Bataan (Afab) expects a 13-percent increase in approved investment commitments this year to about P7 billion.
Last year, the agency approved P6.2 billion worth of pledges from 28 companies, generated a total of $526.6 million in exports from locators, and created more than 5,700 new jobs, Afab chair and administrator Deogracias G.P. Custodio said in a briefing Tuesday.
“As the Freeport Area of Bataan (FAB) moves forward in the coming years, the authority aims to maintain the status of the freeport as one of the star economic performers in the Philippines and in the Asian region. With the sound business fundamentals of the FAB, along with its globally recognized competitive workforce, the Afab assures locators and potential investors that it will continue to address their demands and concerns,” Custodio said.
According to Custodio, the target is to attract more companies engaged not only in light manufacturing (garments, bags and shoes), but also in the business process outsourcing (BPOs), logistics and even electronics industry.
“We want to establish ourselves as a BPO location. We’re renovating two floors in one of the buildings within the freeport to provide 3,000 square meters of space for BPO firms. We’re already in talks with one BPO firm who wants to take at least one floor. That company is now doing the legwork to find out if they can tap an adequate talent pool in Bataan,” Custodio explained.
Custodio added that the authority was also in talks with several developers to put up technoparks and dormitories within the Afab.
He identified these as Grand Innovasia; Earth & Shore Leisure Communities Corp., the developer behind Camaya Coast; and Alloy MTD, among others.
The former golf course within Afab is also targeted to be redeveloped into a mixed-use complex as it was no longer feasible to maintain it.
Meanwhile, many of the existing locators are on an expansion mode and are expected to generate another 5,000 new jobs at the freeport.
Among these companies are the subsidiaries under the Luen Thai group, which will be opening up at least 2,000 new jobs with their expansion plans.
The Freeport Area of Bataan is the emerging fashion manufacturing hub of the Philippines as it hosts a cluster of companies producing branded garments, apparel, shoes and accessories like bags and jewelry.
Among the more notable brands produced in Bataan are Doc Martens, Tory Burch, Michael Kors, Coach, Stella Luna, Kate Spade and Fossil.
The Afab also hopes to boost its logistics industry following the start of commercial operations of Seasia Nectar Port Services Inc.
The opening of the dry bulk terminal—designed to handle shipments of coal, clinker, silica sand, steel, fertilizer, and other dry bulk cargo—is expected to make FAB a viable location for investors as it will allow companies to directly ship their products to Manila and international ports as well.
