SEAPORT DEVELOPMENT. Aurora Pacific Economic Zone and Freeport Authority President and Chief Executive Officer Gil Taway IV updates stakeholders on the first year of his term on Friday, October 11, 2024. Taway highlighted the proposed seaport development that can attract investors. (PNA photo by Kris M. Crismundo)
MANILA, Philippines — The Aurora Pacific Economic Zone and Freeport Authority (Apeco) is in discussions with a New York-based company and the Department of National Defense (DND) to build a seaport within the ecozone in Casiguran, Aurora.
Apeco president and chief executive officer Gil Taway IV said in a recent interview that he will embark on a follow-through investment mission to the United States from Oct. 20 to 27 to talk to firms about their investment interests inside the zone, especially in seaport and defense hub development.
“We will meet Newmark, which is interested in financing the seaport,” Taway said, referring to the leading global commercial real estate consulting firm based in New York.
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Taway said while the US firm could help raise funds for the seaport development, Apeco wants the Philippine Ports Authority (PPA) to handle the operations.
The proposed Casiguran seaport is envisioned to be a vital gateway for trade and commerce, positioning Apeco as a strategic hub for local and international businesses, especially in the agro-industry, renewable energy, defense, and tourism, among others.
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He added that Apeco is also open to port operators from the private sector.
Aside from Newmark, Apeco will also meet US players in the defense supply chain, like Anglicotech, which has operations in Subic, Zambales.
Additionally, DND Secretary Gilberto Teodoro Jr. is eyeing a 50-hectare land inside the ecozone for military purposes.
“He offered that DND will develop the airport and seaport,” Taway said in Filipino. (PNA)