MARIVELES, Bataan – Representative Abet S. Garcia of the 2nd District, expressed optimism Friday that the province will become richer in the coming years with the creation of the Freeport Area of Bataan (FAB) with the expected pouring in of additional investments and the generation of tens of thousands of employment.Rep.

Garcia was the architect of the creation of the FAB after sponsoring Republic Act No. 9728, which converted Bataan Economic Zone (BEZ) into FAB, which is expected to become a major Freeport and Ecozone since the area is strategically located along the Manila Bay.Governor Enrique “Tet” Garcia predicted that around 100,000 new jobs will be generated once FAB goes into full swing. Rep. Garcia is a son of the governor.“In fact, right after the law was created, a number of investors, including foreigners, are getting in touch with us and expressed keen interest in investing in FAB, an indication that the newly created freeport will become bullish,” Rep. Garcia told this reporter.Balanga City Mayor Joet S. Garcia, another son of the governor, is now also introducing a scheme to make Balanga as a World Class University town, urging his constituents to prepare for the FAB.Rep. Garcia said that the Implementing Rules and Regulations (IRR) of FAB is now being crafted and can be finished anytime soon.Mayor Jesse Concepcion of this host town, also heaved a sigh of relief with the conversion of BEZ into FAB, saying this has saved BEZ from its imminent collapse and bankruptcy. Rep. Garcia and Mayor Concepcion blamed Philippine Economic Zone Authority (PEZA), the umbrella organization of the country’s economic zones, for its total neglect of BEZ, resulting in the closure of a number of companies here and dislocation of tens of thousands of employers for the past several years.Under the law, Rep. Garcia pointed out, FAB shall have an authorized capital stock of P2 B with the option to increase capitalization.For his part, Mayor Concepcion said that thousands of dislocated workers inside BEZ have refused to leave Mariveles in anticipation that they will be rehired soon, saying these displaced workers can now have the chance to be employed with the conversion of BEZ into FAB.“FAB will become a magnet for investors due to the various benefits, such as taxes and other emoluments not to mention its infrastructure which will be improved in the coming days and this means a lot of employment will be created,” added Rep. Garcia.