Improved business climate at CEZA to lure more gaming investors (Press Release)

December 20, 2017

LEISURE AND RESORTS WORLD CORPOATION

NEWS RELEASE

December 20, 2017

 

Improved business climate at CEZA to lure more gaming investors

A level playing field, world-class internet connectivity, stable power supply and a brand new international airport in a secure and stable business environment, await international gaming licensees (IGL) in online (offshore) gaming looking to set up shop at the Cagayan Special Economic Zone and Freeport (CSEZF) in Santa Ana, Cagayan.

This was essentially the message during a well-attended business forum organized jointly by the Cagayan Economic Zone Authority (CEZA), led by its Administrator and CEO Secretary Raul Lambino, together with First Cagayan Leisure and Resort Corp.(FCLRC) and the North Cagayan Gaming and Amusement Corp. (NCGAC), for current and potential investors in CSEZF.

Lambino told the forum participants that CEZA is implementing initiatives in various infrastructure support projects, particularly the rehabilitation of existing service facilities and the opening of its newly-built airport to international and domestic air travel early next month to promote the CSEZF as the new growth center in the North and the next transhipment and logistics hub in the Asean region.

To jumpstart investments, CEZA itself will undertake certain projects, he said, including the construction of CEZA’s multi-storey corporate center, a world-class medical center, a boutique hotel and duty free premium outlets. Also in the planning pipeline are the construction of a power plant, expressways, integrated resorts, townships, and water, sewerage and waste services.

He said CEZA would also help beautify the host town of Santa Ana with attractive street lights, widened roads and improved landscape to lure local and foreign tourists to visit this emerging destination that features the famous Palaui Island and Anguib beach and the enchanting caves, hills, lakes, rivers, ruins and 15th century old churches of Cagayan.

With regards to the online gaming industry, Lambino said he has initiated reforms, in collaboration with FCLRC and NCGAC, CEZA’s authorized master licensors, to ensure that only legitimate IGLs that went through rigid probity checks and testing of their gaming platforms are authorized to operate at the CSEZF and shut the door on illegal operators.

He thanked both the FCLRC and NCGAC for their continuing commitment to develop CSEZF and attract more investors to locate their operations inside the Freeport.

 

Lambino announced during the event the completion of a major infrastructure project that will greatly enhance the accessibility of CSEZF from other parts of the country as well as from other countries within Asia.  CEZA, FCLRC and NCGAC have joined forces to build the Cagayan North International Airport in the town of Lal-lo, Cagayan, a sprawling facility that could accommodate Boeing 737s and Airbus 320s and whose 2.1- km. runway is set to be extended to eventually accommodate even bigger aircraft.

Lambino said the Civil Aviation Authority of the Philippines (CAAP) has already given the green light to operate the Cagayan North International Airport to both chartered and commercial flights, and its upgrade to a Category-4C airport from the present Category-3C is expected to be handed down soon with the installation of world aviation standard fire and safety equipment. The upgraded registration will allow wide-body airplanes to use the airport.  CEZA is currently in discussions with airlines interested in regular domestic and international commercial and chartered flights to Cagayan via this new airport.

During the business-to-business dialogue held after the forum, at least 20 of the 54 attendees signified their intention to locate Business Process Outsourcing (BPO) operations at the CSEZF.

Locally-registered companies engaged in BPO are tapped by the IGLs for content delivery and customer support. CEZA accredits and registers such BPOs to provide gaming support services to the IGLs.

Lambino assured the forum participants that CEZA would implement its mandate to protect and promote the interest of their locators, including the grant of tax incentives, insulation from harassment, better working environment, rich source of talents, and long-term business contracts.  He laid out action plans that will address specific needs of existing locators and potential investors including the creation of a CEZA police force to establish and maintain a secure environment, the issuance of visa upon arrival to Chinese and other foreign tourists, the operation of the customs function for goods brought into the Freeport by locators, and the incentivization of proponents that would invest and operate in recreational and tourist-oriented facilities.

 

For further information regarding this Press Release, you may contact:
Freddie B. Reyes /Head, Investor Relations (632) 482.7622 (63) 917 527-5499
Mylene De Mesa/Corporate Communications mylene.demesa@lrwc.com.ph

Category: Press Releases