AFAB signs deal with Lód Authority

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THE Authority of the Freeport Area of Bataan (AFAB) forged ties with the Lód Regional Development Agency (LRDA) of Poland early this week, establishing a strong partnership toward the promotion and development of trade and commerce in the Freeport Area of Bataan (FAB).

AFAB Chairman and Administrator Emmanuel Pineda signed a memorandum of understanding (MOU) with LRDA President Przemyslaw Andrzejak and Vice President Agnieszka First in Lód.

Under the MOU, the two agencies vowed to cooperate closely to establish strong and prospective business relations. The AFAB assured the international agency that it would assist all entrepreneurs from the region of Lód in locating to the FAB and the Philippines.

“Hopefully, this MOU is the start of a very important partnership. The support of the Lód Regional Development Agency will help in assuring the investors from Poland and the region that they will have partners toward success when they locate to FAB,” Chairman Pineda said.

The chairman added that the agreement is expected to lure more Polish investors to the freeport.

During the signing ceremony, LRDA President Przemyslaw Andrzejak said that the partnership with the AFAB is a welcome development, noting that the Authority is expected to help the entrepreneurs from the region of Lód develop business contacts in the Philippines, especially in the industries of food and beverage, pharmaceutical, construction, chemical, bio-economy, housing, expansion areas, renewable energy and transportation.

Through the signed MOU, the AFAB and LRDA will also organize and hold business missions, meetings and seminars focused on the possible cooperation opportunities.

The FAB is tagged as the emerging economic dragon of the country. It is also known as one of the fashion manufacturing hubs of the Philippines, as it possesses a budding cluster of companies producing high-end brands of garments, apparel, shoes and accessories such as bags and jewelry. Its vision is to be the freeport of choice in the country by 2020, becoming a center of trade, innovation and sustainable development in Asia and promoting work-life balance and global competitiveness.

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