BY RAFFY AYENG @tribunephl_raf | Daily Tribune (Philippines)

The Cagayan Economic Zone Authority (CEZA) keeps luring locators, resulting in P19.1 billion worth of investments last year and providing thousands of jobs. The latest CEZA figures showed that the total capital investments logged at the government-owned and controlled corporation stood at P19. 171 billion for 2024, up by 5.9 percent against 2023’s P18.101 billion.

“In a yearly review, CEZA Capital Investments show a gradual increasing trend which recorded an average growth rate of 11.35 percent from 2020 to 2024. Following the growth, it is anticipated that CEZA Capital Investments for 2025 will amount to at least P21.34 billion,” CEZA, run by administrator and chief executive officer Katrina Ponce Enrile, said.

Broken down, the industry that stood as CEZA’s top revenue contributor was the real estate sector accounting for P4.316 trillion or 22.48 percent of total assets.

Other leading sectors include mineral processing and exports with P4.085 billion (21.28 percent); gaming operations with P2.771 billion (14.44 percent); commercial and industrial facilities with P1.583 billion (8.24 percent), and trading and services with P1.505 billion (7.82 percent).

As of 2024, CEZA has 94 registered enterprises, with trading and services as the business type among CEZA-registered enterprises, accounting for 17 registrants or 18.08 percent of total business entities. Other industries located at CEZA include tourism enterprises with 14 registrants (14.89 percent), financial technology solutions and OVCE (Offshore Virtual Currency Exchange)

with 13 registrants (13.82 percent), real estate with 13 registrants (13.82 percent), and interactive gaming support service providers/BPO with 9 registrants (9.57 percent).

These industries have provided a total of 3,123 jobs for Cagayanons.

In terms of tourist arrivals, the CEZA logged 11,623 local tourists and 186,882 foreigners, totaling 198,505 or a short decline compared to 260,053 total tourist arrivals in 2023, attributed to the consecutive surge of typhoons in the third quarter of 2024, which hindered tourists from visiting the area.

Now in its 30 years of existence, ushering substantial revenue for nation-building, CEZA was created under Republic Act 7922, otherwise known as the “Cagayan Special Economic Zone Act of 1995, 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 AsiaPacific rim. In this light, it now opens itself to interesting business opportunities with attractive incentives and advantages for interested investors who would like to register in CEZA.

These developments are all deemed to attract legitimate and productive local and foreign investments and, thus, create employment opportunities in and around the Freeport.

Link: https://www.pressreader.com/philippines/daily-tribune-philippines/20250315/281792814803147?srsltid=AfmBOoq4J_SYqbjrr1GYeleaW8Me-4KmjJTuZ7kxs6J8QoAY98SNXbYH&fbclid=IwY2xjawJJrUJleHRuA2FlbQIxMAABHWlHfQWe8BtR44QQwb6fFEntb8U_npAyl3iNpJDIqxngthzt5okwtpkZlw_aem_ZcRGT1VbiEJOJV8wHZKy9w