CEZA is building new airports in the economic area of Cagaya

airport

The Cagayan Economic Zone Authority (CEZA) plans to build a multi-million dollar airport within the free port region itself in a bid to draw more investors and establish a so-called “Asian Crypto Valley.”

In 2017, the CEZA unveiled its “Crypto Valley of Asia” project in an attempt to provide blockchain developers and cryptocurrency exchange operators with a stable and safe area to house their back-office support infrastructure.

The free port area currently has 25 big licensees from Asia and Europe for financial technology.

Though, investors are worried about how to get to the eco-zone as quickly as possible since it is 80 kilometers away from the nearest airport, the Cagayan North International Airport in Lal-lo city.

The CEZA is now in talks with the Transportation Department (DOTr) and the Philippines Civil Aviation Authority (CAAP), “who has the primary authority to allow new airports to operate in the country.”

The CEZA is now in talks with the Transportation Department (DOTr) and the Philippines Civil Aviation Authority (CAAP), “who has the primary authority to allow new airports to operate in the country.”

The CEZA is a government-owned and controlled company established by the 1995 Special Economic Zone Act of the Republic Act 7922 or Cagayan.

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