-
The Philippine Economic Zone Authority and Civil Aviation Authority of the Philippines agreed to work toward establishing aerotropolis economic zones for aviation-oriented enterprises
-
The ecozones aim to attract investments in aviation-related manufacturing industries, logistics services and maintenance, repair and operations, and even in renewable energy technologies and food terminal hubs
-
CAAP’s idle and unproductive real estate assets will be used for the ecozones
-
Joint ventures or public-private partnership schemes may be explored
The Philippine Economic Zone Authority (PEZA) and Civil Aviation Authority of the Philippines (CAAP) are working together to establish aerotropolis economic zones for aviation-oriented enterprises.
Plaza and CAAP director general Captain Jim Sydiongco signed a memorandum of understanding on Feb 3 initially committing to areas of cooperation in establishing aerotropolis ecozones and/or aerotropolis-linked ecozones.
The ecozones will use CAAP’s idle and unproductive real estate assets throughout the country.
An aerotropolis is traditionally a metropolitan subregion whose infrastructure, land use, and economy are built around airports.
Under the MOU, PEZA and CAAP will jointly promote establishment of the ecozones to attract investments in aviation-related manufacturing industries, logistics services and maintenance, repair and operations. They also plan to secure investors in emerging companies involved in renewable energy technologies and in food terminal hubs.
The parties may explore opportunities for joint-venture or public-private partnership schemes for ecozone operations and to train world-class workers to ensure a steady supply of ecozone workers needed by the airline industry.
PEZA director-general Charito Plaza in a statement said the partnership with CAAP will help “maintain the competitiveness of Philippines and our brand as the investment destination or haven in Asia.”
Efficient connectivity and established infrastructure for transportation and logistics, she added, are a crucial factor in the ease of doing business and in lessening the cost of doing business. “Without it, we cannot build linkages and (enable) delivery and exchange of goods and services,” she said.
