The Cagayan Economic Zone Authority was conceived to cater the new global market. Through its mandate to manage and supervise the development of the 54,000 hectare Cagayan Special Economic Zone and Freeport, CEZA aims to foster a business and tourism hub through its strategic location, competitive incentives and ease of doing business.
The Cagayan Freeport is strategically located between the Pacific Ocean and China Sea and enjoys proximity to lucrative overseas market such as Taiwan, HongKong, japan, Korea, and the People’s Republic of China. It is in fact situated at the crossroads of international shipping routes between the West Coast of North America, Far East and Southeast Asia.
CEZA offers generous incentives to its locators such as tax and duty free importation, special tax rate of 5% of gross income in lieu of all local and national taxes and tax credits for foreign corporations. Locators in the Cagayan Freeport could also enjoy permanent resident status for foreign investors and their families. Furthermore, foreign workers of CEZA registered enterprises are eligible for the CEZA Working Visa.
CEZA is not only an economic zone, but also a gaming corporation that has the power to license gaming operations. Under the law, CEZA has the power to operate or license tourism related activities including games, amusements, recreation and sports facilities such as dog racing, horse racing and gambling casinos, meaning that it has the power to regulate all forms of gaming in its jurisdiction, similar to the Philippine Amusement and Gaming Corporation (PAGCOR).
CEZA has also pioneered and established the only regulated i-gaming jurisdiction in Asia. CEZA’s jurisdiction on i-gaming is well-recognized for providing transparent regulation and more importantly protection to both players and operators. This has been instrumental in introducing live video streaming form of online-gaming.
The Cagayan Freeport also has a robust IT-infrastructure, which is considered as among the best in Asia in terms of latency and capacity. Being such provides immense opportunities in Business Process Outsourcing and Interactive Gaming. The IT-infrastructure coupled with Cagayan’s abundance of voice and non-voice talent would soon establish the next BPO hub in the Philippines.
CEZA prides itself with the ease of doing business extented to its locators through it’s One-Stop-Action Center or OSAC. The OSAC supports investors from registration of enterprises, application for port use to the application and issuing of the CEZA working visa. CEZA firmly believes in establishing and sustaining partnerships with its locators and continue to foster the growth of their enterprises.