The newly created Authority of the Freeport Area of Bataan (AFAB) is targeting logistics and tourism as anchor industries that would complement nearby Subic Bay Freeport by which to promote itself as a premier investment destination area in the country.

AFAB chairman Deo G.P. Custodio told reporters after his speech before the Financial Executives Institute of the Philippines (FINEX) that they are now preparing for the masterplan of the 1,750 hectare formerly Bataan Economic Zone, now dubbed as the Freeport Area of Bataan (FAB).

Custodio said that at the center of the masterplan is a logistics facility that FAB can provide. He said they are going to develop first a ferry port in Mariveles, separate from the existing ferry port in Orion.

At present, the ferry service is from Orion to Mall of Asia in Manila but a few trips could go straight to Mariveles.

“Logistics is always a selling point,” he said.

FAB’s strategic location makes it ideal as a transshipment point to nearby domestic ports and economic zones, as well as a base to trade networks with major industrial cities in the Southeast Asian region.

“We already have the infrastructure, we have adequate power supply and an existing port facility (Rouvia Port), several buildings, we have the environment in mine our sewage treatment plant,” he said.

He said that AFAB has a P500 million per year budgetary allocation for the first five years of operation that it could tap for its initial projects.

On tourism, Custodio said they Camaya Cover and Mt. Samat.

“We have superior facilities and we are geographically blessed,” Custodio said.

Custodio said there are already inquiries.

So far, there are 43 locators within the industrial zone under the former Bataan Export Zone with 13, 400 employes.

The vision is to make FAB the Freeport of choice by 2020 and with the successful democratic elections that has created a generally favorable economic climate.