Bataan Freeport gearing up for new investors

The newly created Freeport of Bataan in Mariveles, Bataan has started drafting a master plan for the conversion of the former Bataan Economic Zone into a progressive Freeport zone as it gears up for new investors.

Authority of the Freeport of Bataan Chairman Deogracias G.P. Custodio said that the plan will be ready within the year which aimed to map out the 20-year development of the new free port by detailing what supporting infrastructure and land use policies are needed.

Mr. Custodio said that the construction of seaports and roads will go through build-operate-transfer schemes, with incentives such as tax perks to locators that will spend for such infrastructure.

The free port, which covers the former Bataan Economic Zone and the rest of Mariveles town, was established in June when Republic Act No. 9728 lapsed into law. There are 43 registered locators there, including electronics and garments firms.

Bataan officials are confident to see the resurgence of Mariveles as a highly industrialized territory with the creation of the Bataan Free Port Area (FAB).

Republic Act 9728, also known as the FAB law, was recently enacted, converting the Bataan Economic Zone (BEZ) into FAB as authored by Bataan Second District Rep. Albert Garcia.

FAB, as envisioned by Garcia, will attract many multinational companies and elevate the town as a bustling industrial center again.

It will be recalled that the BEZ, then called the Bataan Export Processing Zone (BEPZ), was the first public economic zone established in the country through Presidential Decree 66 in November 1972.

In the first decade of operation, BEZ boomed, attracting more than a hundred multinational locators and transformed Mariveles into an economic haven and one of the most progressive communities in Luzon .

With then vibrant BEZ, prosperity spilled over the entire town of Mariveles . Natives and migrants filled up thousands of jobs at the economic zone, and lots of business establishments started operation.

Sectors of transportation, housing, banking, services, among others, remarkably thrived. There was domino effect of progress in this town.

However, said Garcia, the administrative neglect of the Philippine Export Zone Authority, supervising agency of BEZ and other external factors, stunted the growth of the economic zone.

With dilapidated roads, buildings and other infrastructure, BEZ ceased to attract new investors, and many locators opted to leave.

Garcia pointed out that BEZ has never really achieved its full potential as envisioned when it was established that made him sought its conversion into a free port.

Mariveles will surely become a boom territory again as Garcia said with a free-port status, FAB will be ready for foreign trading, and is set to become an international logistic hub.

There will be easy and cheap transport of raw materials and finished products and less government intervention, which mean cheaper cost of operations for locating companies, said the solon.

Companies, he continued, will surely be attracted to locate at FAB.

Garcia said with the expected location of many companies soon at the free port zone, it is easy to calculate the positive economic impact it can bring to the province, particularly to the host town Mariveles.

He said industries like tourism and transport, and businesses like suppliers, restaurants and food caterers, retailers, among others, will surely thrive, and thousands of jobs will be generated.

Bataan Gov. Enrique Garcia pointed out that FAB is located to Manila Bay , a great bay, just like San Francisco Bay , Hong Kong Bay , Singapore Bay and Dubai Bay , all known logistic hubs.

He sees FAB to become a significant international logistic hub in the Asian region.
The governor said he is very excited on the huge development prospect FAB will bring to Mariveles and the other parts of Bataan province.