Press Release
February 2, 2008

Angara witnesses signing of 10 MOUs during Aurora Investment Summit

Senator Edgardo J. Angara today noted the big potential of Aurora Province as the country's primary tourist destination and investment haven.

Addressing the investors who attended the three-day Aurora Investment Summit at the Hotel Stotsenberg in Clark, Pampanga, Angara said the influx of domestic delegates during the Summit is expected to raise local and foreign investments in the province.

A total of 10 Memorandums of Understanding (MOUs) for investments have been signed between private companies and the province of Aurora. The companies include the United Coconut Planters Bank-CIIF Foundation, the Asiapro Multipurpose Cooperative, the Fundacion Santiago, the Philippine Food Processors and Exporters Organization, Inc. (PHILFOODEX), the Industry Development Corporation (IDC), the Source Asia Business Inc., the East-West Seed Co., the Genius Billion Development Limited, the TGA Farms, and the NDC Maritime Leasing Corporation (NMLC).

The UCPB-CIIF Found., a coco-finance institution, has pledged 100 scholarship grants for the dependents of coconut planters in Aurora.

The Asiapro Multipurpose Coop., a manpower cooperative, will recruit graduates from the different schools of Aurora to be deployed in several companies nationwide.

The PHILFOODEX, a nationwide organization considered as the single and recognized voice of the food industry, will establish value-adding linkages of Aurora's agro-fishing products for local and export markets.

The IDC, a company engaged in the processing and exporting of wood products and furniture, will establish value-adding linkages and investments of Aurora's wood products for the local and export markets.

The Source Asia Business, Inc., a human resource company engaged in the transfer of technology from other countries to the Philippines will explore the viability of introducing gyroplanes in Aurora.

The Fundacion Santiago, a company engaged in market linkages, will market the products of Aurora to various industries and corporations nationwide.

The Genius Billion Development Ltd., will be investing in wind power generation, physical infrastructures, and skills development in Aurora.

The East-West Seed Co., will establish market linkages of Aurora's high-value added crops for local and export markets.

The TGA Farms will establish technical assistance and market linkages for Tilapia fingerlings in Aurora.

The NMLC will explore the setting up of Ro-Ro facilities in Aurora to improve its transportation system.

"These investments will spur economic development in Aurora. We plan to develop and sustain economic growth in Aurora and its adjoining provinces through the economic zone; thus making the Northern Luzon seaboard an investment haven," he declared.

The Aurora Special Economic Zone Area in Casiguran was created through a bill sponsored by Rep. Juan Edgardo Angara in the House of Representatives and by Senator Angara in the Senate.

Aurora is a province blessed with an abundance of tourist spots. Its natural attractions include picturesque waterfalls, lush greenery on mountainsides, and panoramic beaches. It also has its share of historical sights such as the home of former President Manuel L. Quezon.

Known as a popular surfing hub, it has continuously attracted tourists and surfers from other countries, with its nine-foot high waves and 4.5-meter barrels in Cemento Reef, where the annual Aurora Surfing Cup is held.

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