The Aurora Pacific Economic Zone and Freeport Authority (APECO) announced it has attracted investment pledges worth P18 billion, predominantly in renewable energy and defense projects. APECO President and Chief Executive Officer Gil G. Taway IV highlighted the zone's strategic advantage as an alternative gateway for investors facing port congestion and market saturation. The report was published by BusinessWorld.
The pledges are expected to bolster the economic zone's development, with renewable energy projects aligning with the country's push for sustainable power sources. Defense-related investments also form a significant portion of the commitments, though specific project details were not disclosed. APECO's location in Aurora province positions it as a key hub for industries seeking to bypass traditional bottlenecks in Metro Manila and other major ports.
This influx of investments underscores growing confidence in APECO as a viable alternative for locators. The authority is actively marketing its infrastructure and incentives to attract more foreign and domestic capital. The P18-billion figure marks a significant milestone for the freeport, which aims to diversify the regional economy and create employment opportunities in Aurora.