CITY of BALANGA, Bataan – The establishment of a one–stop-shop facility in the business district of this city is a big boost to the economic development of the provincial government in encouraging local and foreign investors to take advantage of growth opportunities in the Bataan peninsula.
The operation of the mixed use master plan development of the capitol compound in the near future is reportedly triggered by the present high cost of site acquisition for business enterprises with the current market price of P 15,000.00 to P 25,000.00 per square meter just outside the capitol periphery.
Bataan Governor Albert Raymond S. Garcia anticipated the entry of multinational business conglomerates in the Province’s five ecozones located in Mariveles, Limay, Hermosa and Morong towns which are geographically situated a hundred kilometers away from Metro Manila.
Several Chinese investors from Hong Kong and Taiwan have shown interest in putting up manufacturing firms at the two coastal ecozones, Authority of the Freeport Area of Bataan (AFAB) and Philippine National Oil company (PNOC) Petrochem Plant compound, both in Mariveles town.
Meanwhile, a group of investors with strong interest in energy development projects had evaluated the mothballed Bataan Nuclear Power Plant facilities on the possibility of converting it to a coal fired power plant and the construction of a solar plant in the former refugee camp now known as the Bataan Technological Park both in Morong town, adjacent to the Subic Bay Metropolitan Authority (SBMA) which is regarded as the most progressive ecozone in the country.
Garcia emphasized during his talks with private and government sectors that investors planning to locate in the provincial ecozone areas could enjoy income tax holidays, entitlement to special tax on gross income and other benefits similar to a foreign partnership enterprise.