Hong Kong garment firm to operate in Bataan Freeport; seen to generate 6,000 jobs
August 10, 2011 9:36 pm
MARIVELES, Bataan, Aug. 10 – A global industry leader in manufacturing apparels is soon to set business at the Freeport Area of Bataan (FAB) here that is seen to create more than 6,000 jobs.
Luen Thai, a publicly-listed company in Hong Kong, signed on Wednesday a memorandum of understanding (MOU) with the Authority of the Freeport Area of Bataan (AFAB).
Representative Albert Garcia of Bataans second district said Luen Thai is considered as one of the largest garment exporters in the Philippines for over 20 years.
It will pour a significant investment for the creation of a fabric mill and garment-related factories, Garcia said.
The Bataan lawmaker, chairman of the House Committee on Commerce and Trade, is the principal author in the conversion last year of the BEZ into FAB. BEZ was the former Bataan Export Processing Zone, first EPZ in the country.
When we embarked in the conversion of the once ailing economic zone into a freeport, it was and continued to be the vision of the province of Bataan to once again rise up to the challenge of providing economic development not only to the province and Central Luzon but to the entire country as well, Garcia said.
The Freeport took over BEZ on June 29, 2010 with about 13,000 workers under the employ of 43 active locators.
Lawyer Deogracia Custodio, FAB chair, said that four new companies, mostly Filipino-owned, have been added after the Freeport started its operations.
Garcia said that they are aggressively luring in investors to FAB that was planned to be a transshipment hub in the Philippines and later in Asia.
The congressman also announced that Bataan will have the cheapest power rate that will benefit not only local residents but investors as well with the operation of the GN Power, a Chinese firm, undergoing speedy construction in Barangay Alas-Asin in this town.(PNA)