Press Release
June 4, 2010

To stimulate trade and investment

Senator Edgardo J. Angara today said that the special economic zone status of Aurora will open up Northeastern Luzon's abundant natural resources and stimulate trade and investment as the Memorandum of Agreement between Aurora Pacific Economic Zone (APECO) and Bureau of Customs (BOC) happens today.

"We see Aurora as the gateway to the Pacific, unlocking the resource-rich and fertile areas of Northern Luzon and it stands at the cusp of economic development and gears up for international commerce and investment. Casiguran is a prime location for an economic zone and we want to stimulate the economy, build better lives and provide a more conducive living environment for its people," said Angara who hails from Baler, Aurora.

He added, "With its vast natural resource-rich terrestrial and maritime area, this quadrangle has a huge investment potential waiting to be tapped."

The MOA will provide a regulatory framework that will legalize the flow of trade in the ecozone. The event was attended by Angara, BOC Commissioner Napoleon Moralesand ASEZA Administrator Vitaliano Sabalo.

"The ultimate goal of this ecozone is to provide economic uplift for the people of Aurora and its adjoining provinces We cannot just mouth words about self-sufficiency while continually denying the regions the tools needed to accomplish this task. Success requires investing massively in infrastructure, research, innovation, education and training the people who live in these regions. This formula will stimulate spending, and generate economic activity. We will start it here by proving that each region can stand on its own, and not just as a unit of government, but more importantly as an engine of economic growth," said Angara.

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