MANILA, Philippines — The Authority of the Freeport Area of Bataan (AFAB) has emerged as a leading economic center with the arrivals of investors who are pouring in their investments here.

As this developed, AFAB slated a month-long celebration this October for the second year anniversary of the passage of RA 9728, the law creating the Freeport Area of Bataan (FAB) and the AFAB.

“This year’s anniversary theme – ‘Respecting the Past, Building the Future’ - reminds us that as we move forward to a better future as productive members of the FAB Community, we should not fail to look back and treasure the past and the lessons that it holds,” said AFAB Chairman and Administrator Deogracias G. P. Custodio.

Custodio said the celebration also aims to further strengthen the linkages between the AFAB and its stakeholders. "The celebration is an expression of the AFAB’s gratitude to its stakeholders and the public in accepting and fully supporting its endeavors," he said.

To realize this goal, Custodio said, the AFAB has kicked off the month-long celebration with the FAB roving orientation-seminar for high school and university students in Bataan. Included in the calendar of activities are: Oct. 13, PhilHealth Seminar on the updates on programs and benefits; Oct. 14, FAB Oktoberfest; Oct. 19, Write Your Best Seminar; Oct. 20, SGV Seminar for FAB locators and managers; Oct. 26, FAB Exhibit; and Oct. 11-26, the FAB Sports Fest 2011.

“Today, the FAB is an emerging economic center that is set to define the new model for global free port Asia. The AFAB administration has attracted new investors in less than a year, marking an almost 40 percent increase in the number of locators in the FAB. This proves the viability of doing business at the FAB and the trustworthiness of the AFAB as an authority that will stand by its promise to ensure locator satisfaction,” the FAB chairman pointed out.

Located at the tip of Central Luzon, the FAB has superior competitive advantages which include its location as it is the nearest Freeport to Manila, making it an ideal transhipment point for domestic, regional and global shipping. It has a total land area of 1,742 hectares, and bounded with harbors with a depth of 11 to 13 meters which are ideal for port operations.

Engr. Jose Utrillo, President of the Concord Pacific Investment Holdings, Inc., a consortium of foreign and local investors, has proposed with FAB chairman and administrator Deo Custodio to build an international seaport inside FAB. Utrillo’s group has been studying the FAB’s master plan.

Rep. Abet S. Garcia, 2nd district-Bataan, who authored the FAB law, said investors will also get to enjoy the superior incentives the FAB offers such as Income Tax Holiday (ITH) from four years to eight years; 5 percent tax in lieu of local and national taxes after ITH period; duty free importation of capital equipment, raw materials, consumer goods and personal items; exemption from wharfage dues, export taxes, imposts and fees; domestic sales allowance of up to 30 percent of total sales; and special visas for investors.