Manila: The Freeport Area of Bataan (FAB) has been hailed as the fastest growing freeport and economic zone in the Philippines, with a quadruple increase in investments recently.
“The FAB overshot its target for 2011 and 2012, and is now looking at a more robust development in 2013. We intend to equal, if not surpass, what we have achieved last year,” said FAB chairman and administrator Deogracias G.P. Custodio.
Investments in 2012 rose to P637.7m from P163.7m in 2011.
With GN Power going onstream earlier this year, the FAB now offers the cheapest power rates in the country, along with the cheapest water rates because of its 2.4-billion gallon capacity dam.
FAB is also looking at enticing those involved in shipbuilding and repair to the port, the only freeport located in the Manila Bay Area. [29/04/13]
