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.
