A week after the CEZA Fintech Summit 2018, the Cagayan Economic Zone Authority (CEZA) received a total of 21 offshore fintech and crypto companies that want to operate at the Cagayan Special Economic Zone and Freeport (CSEZFP).
Dubbed the Fintech City or Silicon Valley of Asia, CEZA inked a total of 21 contracts with offshore Fintech companies that deal with blockchain and cryptocurrency.
Secretary Raul Lambino, administrator and CEO of CEZA, shared that these investments will bring about Php 2 billion in two years.
“We have a perfect setting for some of the young Filipino generation’s best minds and the world’s leading cryptocurrency companies to engage in the development of the next wave of technological innovations,” – Mr. Raul Lambino, administrator and CEO, CEZA
The 54-thousand-hectare of CSEZFP will be the technical garden located at the foot of Sierra Madre mountain range. The CEZA chief also added that the economic zone combines the best of nature and cutting-edge technology, as the area is close to the most popular beaches in the Cagayan province.
Aside from new contracts, the development will also include a new multi-lane expressway and a possible railway that will link the gateway and Lal-lo town’s international airport.
The incoming fintech companies are assured by Mr. Lambino that they will have a steady stream of Filipino manpower. It is also previously reported that the first Fintech University is to be built in the area.