by Julito Rada
[ manilastandardtoday.com ] July 22, 2010
THE Freeport Area of Bataan has urged the business community to look closely into its economic and tourism potentials, especially the incentives it offers to local and foreign investors.
Freeport chairman Deo Custodio said in a briefing Wednesday that the incentives offered by the free port in Mariveles was superior than those of other export processing zones in the country.
“Among these are tax incentives such as income tax holiday for four years, exemption from duties and taxes on imported capital equipment, spare parts, other supplies and raw materials; and exemption from wharfage dues, export taxes, imposts and fees,” Custodio said.
He also said the free port offered permanent resident status to foreign investors and their immediate family members, and tax-free importation of personal equipment for use within the free port.
“Aside from that, what is unique about this is that FAB is the only freeport that can buy and sell properties to foreign investors,” he said.
He said the free port aimed to revitalize the area aside from offering the best incentives. “FAB’s strategic site—located near the Manila Bay-—makes it ideal as a transshipment point to nearby domestic ports and economic zones.
He said the free port had infrastructure, adequate power supply from a power plant and a port facility [Rouvia Port]. The port may also build an airport, which was the original plan for the former Bataan Economic Zone when it was created in the 70s.
“We are also planning to develop the Mariveles Ferry from the Mall of Asia in Pasay City and talks are ongoing with prospective operators. We are also excited about the creation of hotels, duty-free complex, resorts such as Camaya Cove, an ecopark, aside from gaming infrastructure, golf clubs and hotels,” he said.
_____________________________________________________________
