Press Release from the Aurora Pacific Economic Zone and Freeport Authority (APECO) (www.apeco.gov.ph)
PRESS RELEASE
WDC-64-2024
21 August 2024
Embassy Press and Information Section
The Aurora Pacific Economic Zone and Freeport Authority (APECO) embarked on an investment mission to the United States of America (U.S.), led by President and CEO Atty. Gil G. Taway IV. The investment promotion agency gained a staunch ally in Philippine Ambassador to the United States, Jose Manuel G. Romualdez, who expressed his full support for APECO’s new strategic direction to become the Philippines’ First National Defense Hub and other goals, which include establishing itself as the Fishing Capital of Luzon, developing the region as a renewable energy center, and advancing Casiguran, Aurora as the country’s next premier tourism destination. These new strategic directions align with President Ferdinand R. Marcos Jr.’s priorities for national security, food security, and energy security and reflect the agency’s commitment to attracting more foreign direct investments.
The investment team was received by the Defense and Armed Forces Attache, Colonel Roy Anthony O. Derilo, PA, and the Naval Attache, Capt James Francis P. Lugtu, PN as an initial step to link APECO to key players in the US Defense industry.
APECO provides the closest safe harbor to the Philippine Rise and remains as the only economic zone with immediate access to the Pacific Eastern Seaboard.
Casiguran’s locational advantage, coupled with natural barriers provided by the Sierra Madre Mountain Range and the San Ildefonso Peninsula, make APECO the perfect nexus of the country’s defense industry. The team also met commercial chambers and other industries through the dedicated and tireless efforts of the Foreign Trade Service Corps led by Commercial Counsellor Mr. Kenneth Yap of the Philippine Trade and Investment Center – Washington, D.C.
In addition to its focus on national security, APECO is committed to enhancing the country’s food and energy security. The Philippine Rise remains an underutilized resource that the country may benefit from when APECO realizes its vision of having its seaport, which makes port development a top-priority project. APECO also enjoys high potential for renewable energy sources such as solar and wind. Unlocking these sources could see the economic zone significantly contributing to the country’s National Renewable Energy Plan.
Besides its strategic location, APECO offers numerous advantages for investors. The economic zone is home to a high-quality workforce, known for its skills and adaptability, alongside the benefit of competitive labor costs across all markets. Investors can also take advantage of APECO’s low lease rates and long-term lease options, providing a cost-effective solution for businesses considering growth and expansion as well as those looking to extend their business continuity plans.
APECO is committed to promoting ease of doing business. The organization is dedicated to good governance, ensuring that the entry of businesses into the Philippine market is as seamless as possible. APECO’s streamlined processes and investor-friendly policies are designed to attract and retain foreign investors, such as those from the U.S.
APECO is located in Casiguran, Aurora and was established through Republic Act 9490, as amended by Republic Act 10083. APECO will be developed into and operated as a decentralized, self-reliant and self-sustaining industrial, commercial/trading, agro-industrial, tourist, banking, financial and investment center with suitable residential areas. APECO is a government-owned and controlled corporation whose purpose is to attract foreign investments, to generate jobs, and improve social and economic conditions of the local community. ###
PHOTO RELEASE
WDC-238-2024
21 August 2024
