Thursday, 5 February 2009

Cagayan Freeport creates close to 6,000 jobs

The Manila Standard
http://www.manilastandardtoday.com/?page=business4_feb5_2009

Thousands of Filipinos have found jobs at the Cagayan Special Economic Zone and Freeport, as the new economic hub in northeast Luzon continued to draw fresh investments and international tourists.

Cagayan Economic Zone Authority administrator and chief executive Jose Mari Ponce said the number of potential jobs in the economic zone increased exponentially in just seven years, from just 195 in 2002 to 5,918 as of August 2008.

The 2008 employment expectation in the economic zone rose 80 percent from 3,283 potential jobs registered in 2007. Potential job generation was estimated at 2,541 in 2006.

“Once these investments become fully operational, we expect more jobs to be created for Filipinos not only in Cagayan province, but also in other provinces of Cagayan Valley [Region 2],” said Ponce.

Cagayan Valley groups the northeast Luzon provinces of Cagayan, Isabela, Nueva Vizcaya, Quirino and Batanes.

Cagayan Special Economic Zone and Freeport in Sta. Ana, Cagayan is the fastest-growing industrial, logistics and tourism hub in the country. It was established in February 1995, by virtue of Republic Act No. 7922. Ceza manages the free port and attracts new locators into the economic zone.

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