UMVA has learned that a staggering P18 billion in investment pledges has been secured for the Aurora Pacific Economic Zone and Freeport Authority (APECO), with a significant portion dedicated to renewable energy and defense projects.
The influx of investments comes as investors seek alternative gateways amid growing port congestion and market saturation, with APECO positioning itself as an attractive, unobstructed gateway for businesses. APECO President and Chief Executive Officer Gil G. Taway IV highlighted the zone's potential on state-run television.
The investment pledges span a diverse range of sectors, including tourism, agri-processing, cold storage, and skills training, signaling a major boost to the local economy. APECO's 496-hectare ecozone in Casiguran, Aurora, is being touted as a prime investment hub for the country's Pacific coast.
One notable investment is Pacific Impact's plan to build a 25-megawatt solar power plant within the Aurora ecozone, a move expected to draw more businesses to APECO as energy security becomes a top priority for location decisions.
APECO is also in talks with a US defense logistics company regarding potential investments in drone testing and manufacturing, as well as ammunition production, further solidifying the zone's reputation as a strategic investment destination.
The Casiguran port's proximity to the Philippine rise, a region believed to hold significant mineral resources, adds to its appeal, with Mr. Taway emphasizing the zone's vast potential for growth and development.
