Aurora: The Aurora Pacific Economic Zone and Freeport Authority (APECO) is on the verge of finalizing lease and investment agreements with two new locators to establish food processing, logistics facilities, and tourism villas in the ecozone situated in Casiguran, Aurora.
According to Philippines News Agency, APECO has identified TGV Development Corporation (TGVDC) as the developer tasked with constructing a cold storage facility and food processing center. In addition, TGVDC plans to invest in developing docking and boat facilities to support tourism activities within the ecozone.
Central Sierra Hotels Resorts, Inc. (CSHRI) is planning to enhance local tourism by constructing 80 accommodation villas, including 10 luxury villas, aimed at boosting the hospitality offerings in Casiguran.
APECO has announced that the lease contracts and investment agreements with these two companies are anticipated to be signed on March 18, with the groundbreaking ceremony for these developments scheduled for April 28, 2025.
The investment promotion agency (IPA) emphasized that these projects resonate with its broader vision of transforming Aurora into the fishing capital of Luzon through increased investments in the aquaculture industry, while concurrently enhancing the province's tourism potential.
APECO highlighted that the introduction of a cold storage facility will significantly reduce spoilage of perishable goods, thereby extending their shelf life. By integrating a food processing plant, locally sourced produce can be converted into high-value exports, augmenting revenue streams for local farmers and fishermen.
Moreover, TGVDC's tourism-focused docking and boat facilities are designed to accommodate activities such as watersports, jet skiing, boating, kayaking, and island hopping, thus broadening the ecozone's appeal to tourists.
With tourism being a pivotal focus area for APECO, the luxury villas by CSHRI are anticipated to attract both domestic and international tourists, fostering increased foot traffic and stimulating the Meetings, Incentives, Conferences, and Exhibitions (MICE) tourism market in Casiguran.
APECO expressed optimism that these initiatives will deliver long-term economic benefits by catalyzing investment, enhancing local businesses, and creating employment opportunities. The developments are projected to yield immediate job creation while promoting sustainable growth through increased commercial and tourist activities.
