Friday, October 22, 2021
HomePorts/TerminalsBataan freeport readies masterplan

Bataan freeport readies masterplan

THE Authority of the Freeport of Bataan (AFAB) will release in a year’s time the area’s 20-year development masterplan.

The plan will include infrastructure projects such as seaports and roads to be constructed through the Build-Operate-Transfer scheme.

Investors in the freeport will be able to buy land; enjoy a four-year income tax holiday; secure exemption from duties and taxes on imported capital equipment, spare parts and other raw materials; and get exemption from wharfage dues, export and import taxes and fees. Other perks include permanent resident status for expatriate executives and their immediate family members as well as tax-free importation of personal equipment for use within the freeport.

The freeport covers the former Bataan Economic Zone and the rest of Mariveles town.

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