Mariveles, Bataan – The Authority of the Freeport Area of Bataan (AFAB) was recognized among government-owned and -controlled corporations (GOCCs) for its dividend contributions during the 2025 GOCCs’ Day rites held today, 16 September 2025, in Malacañang.
AFAB ranked 29th nationwide, remitting PHP130 million to the National Treasury this year—up PHP50 million from its 2024 contribution. AFAB Administrator and CEO Hussein Pangandaman personally received the recognition, accompanied by Deputy Administrator for Operations Atty. Michael Angelo Paderanga and Director Aurelio C. Angeles Jr.
The increase in remittance comes from stronger revenue performance of enterprises operating inside the Freeport Area of Bataan. This growth shows AFAB’s ability to deliver fiscal resources to the government while fulfilling its mandate to attract investments and sustain economic activity in Bataan.
According to the Department of Finance (DOF), dividend contributions from GOCCs are expected to further increase toward yearend, following the PHP116.84 billion already remitted as of September. Under Republic Act 7656, or the Dividends Law, GOCCs are required to declare and remit at least 50 percent of their annual net earnings to the national government.
AFAB’s higher dividend payment affirms its growing fiscal contribution to national revenues while reinforcing the Freeport’s role in supporting programs that drive economic and social development.