The Cagayan Economic Zone Authority (CEZA) is a government owned and controlled corporation that was created by virtue of Republic Act 7922, otherwise known as the “Cagayan Special Economic Zone Act of 1995″. It was authored by Senator Juan Ponce Enrile, a native of Cagayan Province, and approved by then President Fidel V. Ramos. It has been tasked to manage and supervise the development of the Cagayan Special Economic Zone and Freeport (CSEZFP).
From 1997 up to the present, CEZA continues to initiate several projects to promote development in the CSEZFP. As an economic zone, it aims to develop the whole area into a self-sustaining industrial, commercial investment, financial and tourism-recreational center and, likewise, with suitable retirement / residential areas. As a Freeport, it operates as a separate customs territory similar to Hong Kong, Singapore, Lubuan in Malaysia and Hamburg in Germany. It is envisioned to be a major transshipment point for trade in the Asia-Pacific rim. In this light, it now opens itself to interesting business opportunities with attractive incentives and advantages for interested investors that would like to register in CEZA. These developments are all deemed toward attracting legitimate and productive local and foreign investments and, thus, creating employment opportunities in and around the Freeport.