What does AFAB mean in AUTHORITIES
The Authority of the Freeport Area of Bataan (AFAB) is an organization responsible for managing the free-trade zone in Mariveles, Bataan, Philippines. AFAB was created by virtue of the Republic Act 9728 or An Act Creating the Freeport Area of Bataan on November 11, 2009.
AFAB meaning in Authorities in Governmental
AFAB mostly used in an acronym Authorities in Category Governmental that means Authority of the Freeport Area of Bataan
Shorthand: AFAB,
Full Form: Authority of the Freeport Area of Bataan
For more information of "Authority of the Freeport Area of Bataan", see the section below.
Essential Questions and Answers on Authority of the Freeport Area of Bataan in "GOVERNMENTAL»AUTHORITIES"
What is AFAB?
AFAB stands for the Authority of the Freeport Area of Bataan. It is an organization responsible for managing the free-trade zone in Mariveles, Bataan, Philippines.
What does AFAB do?
The primary goal of AFAB is to facilitate economic development within its jurisdiction by providing incentives and facilities to prospective capitalists and investors who will produce goods and services beneficial to its inhabitants. It also provides adequate infrastructure and social services; protection from natural disaster; protection from ecological destructions; a suitable urban development plan; and strong security against any illegal activity within its area.
How was AFAB created?
AFAB was established through Republic Act 9728 or An Act Creating the Freeport Area of Bataan which was passed on November 11, 2009.
Where is the jurisdiction of AFAB?
The jurisdiction of AFAB covers all lands and other properties located within Mariveles, Bataan, Philippines.
What benefits can investors gain in AFAB?
Investors or capitalists investing in the free-trade zone managed by AFAB may enjoy tax-exemption privileges; duty-free importation and exportation rights; streamlined business application requirements; desirable investment climate with low operating costs; access to skilled personnel from nearby universities; affordable real estate prices among others incentives provided by APFB to attract more investments.
Final Words:
Thus, it can be seen that complying with local regulations set by authorities like APFB's will ensure successful investments that will bring about economic development to its area.
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