The Cagayan Special Economic Zone and Freeport, also known as Cagayan Freeport, is a special economic zone in Cagayan, northern Luzon, the Philippines. It was established by virtue of Republic Act No. 7922, otherwise known as the Cagayan Economic Zone Act of 1995. It is being supervised and managed by the Cagayan Economic Zone Authority (CEZA) into a self-sustaining industrial, commercial, financial, and recreational center, with a suitable residential area, in order to create employment opportunities around the Cagayan Freeport, and to effectively encourage and attract legitimate and productive local and foreign investments.
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The freeport is actually located in Port Irene, Barangay Casambalangan, Santa Ana, Cagayan. It is approximately a 45-minute plane ride from Kaoshiung, Taiwan's largest industrial and shipping center. By virtue of RA 7922, it can be expanded to Fuga Island in the north.
The freeport is at the forefront of the development of the gaming infrastructure. Gaming operators and entities operating in the freeport enjoy numerous benefits and incentives inherent including the potential of positioning themselves as lead players in the freeport, ensuing global connectivity. It includes the development and operation of a casino resort, an 18-hole golf course, a theme park, and other recreational and tourism amenities.
The design of the area's master plan was awarded to a consortium composed of several local and foreign specialists including Landseaire Resources and Management Corporation, The Lead Corporation, The Services Group, Hok International, Ltd., Woodward Clyde, Filipinas Dravo, and Pacific Asia Capital Corporation. The plan, which is the first phase of an overall development master plan, includes the development of a port, upgrading the region's agricultural production, rehabilitation of the airstrip, resort development, and creation of an industrial zone while sustaining environmental protection for the entire area.
The freeport also was given autonomy to operate as a separate customs territory similar to Hong Kong, Singapore, Labuan in Malaysia and Hamburg in Germany. It made the location an ideal site for an international transshipment hub.
Cagayan Economic Zone Act of 1995 was authored by Sen. Juan Ponce Enrile, a native of Gonzaga town in Cagayan. Cagayan Economic Zone Authority is administered by Jose Mari B. Ponce.
History
The Philippine Senate passed Republic Act No. 7922, also known as Cagayan Special Economic Zone Act of 1995, creating a special economic zone in Sta. Ana, Cagayan, and some neighboring islands in Aparri, Cagayan.
Cagayan International Airport
The Northern Cagayan International Airport is an airport under construction in Lal-Lo, Cagayan, to support the Cagayan Special Economic Zone and Freeport. It is projected to cost some Php1.67 billion. The international airport will be one of the two international airports being proposed in the Pacific seaboard of Luzon island. Luzon island has only one domestic airport operating on Pacific side - Legazpi Airport.