Photo from Aurora Pacific Economic Zone (APECO)/Facebook
The Aurora Pacific Economic Zone and Freeport Authority (Apeco) said it has received a seal of approval to become the Philippines’ national defense hub, gaining crucial support that could see the economic hub raise an industry worth billions of dollars.
The nearly 17-year-old government-owned and controlled corporation said that Philippine Ambassador to the United States Jose Manuel Romualdez expressed his full support for the Apeco’s new strategic direction.
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FEATURED STORIES BUSINESS National ID gives more Filipinos ‘face value BUSINESS BIZ BUZZ: Unwinding Gogoro … quietly BUSINESS Polvoron maker seeks P500 million capital for expansionAside from this, the Apeco is also batting to establish itself as the fishing capital of Luzon, and developing the region as a renewable energy center, and advancing Casiguran, Aurora as the country’s next premiere tourism destination.
“These new strategic directions are aligned with the priorities of President Ferdinand Bongbong Marcos [Jr.’s] thrusts for national security, food security, and energy security and also reflects the agency’s commitment towards attracting more foreign direct investments,” Apeco said in a statement.
Article continues after this advertisementLast month, the Apeco conducted an investment mission to the United States of America (US) led by its president and chief executive officer Gil Taway IV.
Article continues after this advertisementThe head of the economic zone met with the embassy’s defense and armed forces Attache, Colonel Roy Anthony Derilo and the naval attache Capt James Francis Lugtu.
Article continues after this advertisementThe Apeco said this is the initial step to link with key players in the US defense industry.
In 2023, Forbes reported that the US defense industry awarded more than $400 billion in contracts to the private sector.
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Their economic zone provides the closest safe harbor to the Philippine Rise, Apeco highlighting its immediate access to the Pacific Eastern Seaboard.
“Given the existing disputes in the West Philippine Sea, Apeco stands as the logical choice for the country’s national defense agenda,” it said.
“Casiguran’s locational advantage coupled with natural barriers provided by the Sierra Madre Mountain Range and the San Ildefonso Peninsula makes Apeco the perfect nexus of the country’s defense industry,” the Apeco said further.
Besides its strategic location, Apeco touted that it is home to a high-quality workforce, known for its skills and adaptability, alongside the benefit of competitive labor costs across all markets.
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“Investors can also take advantage of Apeco’s low lease rates and long-term lease optionsprimebetz, providing a cost-effective solution for businesses considering growth and expansion as well as those looking to extend their business continuity plans,” said the Apeco.
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