MARIVELES, Bataan — The Authority of the Freeport Area of Bataan (AFAB) was recognized for its ₱138.12 million dividend remittance to the National Government during the 2026 GOCCs’ Day held at the Ceremonial Hall of Malacañang Palace on July 8.
AFAB Administrator and Chief Executive Officer Hussein P. Pangandaman joined President Ferdinand R. Marcos Jr. and heads of government-owned and controlled corporations (GOCCs) in the annual recognition ceremony, which highlighted the significant contributions of state-run corporations to national development.
The recognition underscores AFAB’s commitment to sound fiscal management and responsible corporate governance while continuously supporting the government’s economic and social development agenda.
This year’s GOCCs’ Day also celebrated the collective remittance of ₱140 billion as of July 8, 2026, from 50 GOCCs, representing a substantial portion of the ₱147.15 billion in dividends declared for the year. These remittances serve as an important source of non-tax revenue that helps fund priority government programs, infrastructure development, and essential public services.
Pangandaman said the recognition reflects AFAB’s unwavering commitment to operational excellence and accountability.
“This recognition affirms AFAB’s commitment to financial discipline, transparency, and responsible stewardship of public resources. We remain dedicated to strengthening the Freeport’s investment climate while ensuring that our successes translate into meaningful contributions to the National Government and the Filipino people,” Pangandaman said.
The annual GOCCs’ Day is held pursuant to Republic Act No. 7656, or the Dividend Law, which requires government-owned and controlled corporations to remit at least 50 percent of their annual net earnings as dividends to the National Government.
AFAB continues to strengthen its role as one of the country’s leading investment promotion agencies by balancing sustainable economic growth with prudent financial management and good governance.