Cagayan Economic Zone Authority (CEZA), a corporation owned and controlled by the Philippines Government, is planning to construct an $80m airport in a bid to attract more investments.

Formed in 1997, CEZA manages and supervises the growth of the Cagayan Special Economic Zone and Freeport (CSEZFP).

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

CEZA administrator and CEO Raul Lambino told The Manila Times that the airport will be built inside the zone.

He added: “The construction of a new airport is an important facility in the establishment and realisation of the so-called Crypto Valley of Asia concept that we have embarked.”

The ‘Crypto Valley of Asia’ concept was jointly launched by CEZA and private developer Northern Star Gaming and Resorts to create a secure region for cryptocurrency exchange operators and blockchain developers.

The new airport will be constructed with an investment of around $60m to $80m.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

An American company has collaborated with local organisations to carry out the master plan and feasibility study.

It is believed that it is easier and faster to construct a new airport rather than an expressway to the Cagayan North International Airport, which is located 80km away from the area.

Lambino stated: “Unless we construct an expressway, we would not be able to address the concern of investors who would want to come to the ecozone as quick as possible.”

The primary jurisdiction for the licensing of the airport is with the Philippines Department of Transportation (DOTr) and the Civil Aviation Authority of the Philippines (CAAP).

CEZA is in talks with both organisations about the new airport and hopes to achieve it in the next three years.