Cagayan Economic Zone Authority (CEZA) Administrator and Chief Executive Officer Raul Lambino said a Slovak company planning to put up a premier health care facility in the Cagayan Special Economic Zone and Freeport (CSEZF) is a welcome development .

This is after CEZA and Commerce Ltd. from Slovakia signed a memorandum of understanding (MOU) on Aug. 1 for the establishment of a “first-class hospital” within the economic zone.

“This will boost the health care, not just for Freeport locators but for our people in the entire region,” Lambino said in a statement Friday.

“This is the beginning of a new era of health care in our region. With it, we can attract new investors and spark tourism activities,” he added.

The CEZA chief noted that the potential investment of the Slovak firm would generate more jobs in the northern part of the country, and open opportunities in medical tourism and retirement communities.

In a separate statement, Commerce Ltd. said it is already in the process of the project development, identifying which services would be initially provided and other services it would cater in the future.

The company also assured it would fast-track development of the facility.

“This will radically improve the quality of service and infrastructure for patients, workers, tourists, and all the people in the region in the years to come,” Commerce’s statement read.

Slovakia is a high-income level state in the European Union (EU) with a population of only 5.4 million.

Data from the Bangko Sentral ng Pilipinas showed that in the past three years, the Slovak Republic only infused USD320,000 worth of foreign direct investment to the Philippines in 2016.

http://www.pna.gov.ph/articles/1043638