BALANGA CITY — Chinese and South Korean investors are eyeing a coastal town in Bataan, considered as one of the favorite tourist destinations in Central Luzon, as a probable site for their future expansion plans in the country.
Bagac mayor Ramil del Rosario told The STAR that several foreign businessmen have expressed interest in the geographical location, availability of competent skilled workers, government incentives and accessibility of the place to Metro Manila.
A prominent land developer in Southern Luzon before he joined politics, Del Rosario presented his feasible economic agenda before economists, owners of big manufacturing firms and traders during his two-week business trip to Beijing and other industrial cities in the Peoples’ Republic of China last month.
According to the newly elected mayor, Chinese businessmen have articulated their satisfaction over the long-range agro-industrial development programs of the municipality to achieve a progressive and environment friendly community in Bataan.
The fourth-class town of Bagac has the largest land area in the 11 towns of Bataan and is a leading tourist spot in Central Luzon because of its world-class beach resorts facing the South China Sea.
Chinese and South Korean investors have been attending business fora sponsored by the local economic council and seriously evaluating the importance of the town as manufacturing site for future expansion.
Del Rosario is expecting the influx of foreign investments in Bagac with ongoing developments at the adjacent Bataan Economic Zone (BEZ) in Mariveles town and Subic Bay Metropolitan Authority (SBMA) in Olongapo City.
Some Chinese and South Korean nationals are also interested to relocate their industrial firms in the country due to global competitiveness and market demands for manufactured goods, Del Rosario added.