SOiVA Telecom, a South Korean IT development company with strong international experience in providing global trade and investment linkages to business cooperatives, signed a Memorandum of Understanding with the Cagayan Economic Zone Authority on November 6, 2018, for the creation of an investment program for sustainable development and job creation in the Cagayan Special Economic Zone and Freeport (CSEZFP).
In this regard, SOiVA intends to infuse investment amounting to Three Billion US Dollars of foreign investment to develop a global consortium of trading and investment organizations led by SOiVA. The Global SOiVA Consortium City Development Project is estimated to create at least One Hundred Thousand (100,000) job opportunities for Filipinos; and will establish a Global SOiVA Exchange for global value services within the CSEZFP.
SOiVA, in line with its Global Consortium City Development Project, further intends to improve the quality of organic agriculture in Cagayan and the rest of Northern Luzon and to promote the social welfare of organic farmers in the region. SOiVA, in its efforts to facilitate massive organic food production, intends to provide salaries to organic farmers of identified cooperatives in the form of monthly paid advances. Moreover, SOiVA’s detailed investment plan include the objectives of providing basic infra products to farmers cooperatives, establishing a Filipino-Korean exchange learning program on organic farming in cooperation with the GSAIT (Global SOIVA Advanced Institute of Technology) in Korea, and facilitating the production and distribution of organic fertilizers to support the growing organic farming industry and to cater to the global demand of organic foods for pregnant women.
SOiVA further seeks to develop global SOIVA Consortium City and expand it into a global investment hub that would provide housing, transportation, telecommunication, and finance services to the global market from CSEZFP.
Moving forward, SOiVA is committed to form a coordination team with CEZA to facilitate new company registration procedures and to develop a system to provide salaries to organic farmers to various farming cooperatives in the Cagayan Region and the rest of Northern Luzon.