Cagayan Economic Zone Authority (CEZA) Administrator and CEO Raul Lambino said they are pursuing the construction and development of modern infrastructure facilities at the Cagayan Freeport to cope with financial technology (fintech) investments.
In a statement on Tuesday, Lambino said CEZA is currently putting up a three-storey commercial building and another three-storey corporate center that will have a combined 12,000 square meters of business offices for lease.
Lambino said the growth of the Cagayan Special Economic Zone and Freeport would be driven by new technology and innovative ideas, led by the cryptocurrency.
He said that so far, there are about 25 fintech companies registered as principal licensees in CEZA that are soon expected to begin their offshore operations in the Cagayan Freeport.
These are Ultra Precise Investment Ltd., Rare Earth Asia Technologies Corp., Formosa Financial Holdings Ltd., Tanzer Holdings Ltd., Asia Premier International Ltd., Orient Express Global Ltd., Dragon Empire Developments Ltd., Tiger Wheel Ltd., IPE Global Pte. Ltd., CR8TIV Solutions Management Ltd., Sino-Phil Economic Zone Agency Development and Management Corp., AMG Fintech Pte. Ltd., Hong Kong Yuen Shing Hong Ltd., First Bullion Holdings Inc., 6X Tech Pte. Ltd., Harseq Inc. Ltd., Golden Millenial Quickpay Inc. Ltd., Fafa Internet Blockchain (China) Co. Ltd., Wangwang Quickpay Foundation Ltd., Apha Capital Asia Ld., Escudar Co. Ltd., Buyglobal Pte. Ltd, and 365 Global Technology Inc.
Aside from this, Lambino said construction of other facilities like condominiums and business offices are ongoing, among them the four-hectare Consolidated Luzon Business Solutions Inc. mixed-use units, the 21-hectare Alpha Palauig complex, and the 300-hectare Foremost Cagayan Leisure and Resorts Corp. proposed international airport.
He said CEZA would also immediately start the development of the 15- hectare proposed Global City once the Comprehensive Land Use Plan (CLUP) in the town of Santa Ana is approved by the provincial government of Cagayan for implementation.
Photo by: The Manila Times