Press Release
November 5, 2009

SEAPORT TO BE BUILT IN AURORA ECOZONE

Senator Edgardo J. Angara together with the Aurora Special Economic Zone (ASEZA) led the signing of a Memorandum of Understanding with Rizhao Development Corp. for the design and development of a seaport in Casiguran, Aurora that will harness the full potential of the province as the next investment hub in the Pacific.

The Memorandum of Understanding between ASEZA and Rizhao Development Corp.was signed on November 3, 2009 by ASEZA's Deputy Administrator, Mr. Vitaliano T. Sabalo, Jr., and Rizhao Development Corp.'s Chief Executive Officer, Mr. Guanghai Shen.

ASEZA is envisioned to become a prominent transshipment hub in the Philippines as it is strategically located along the Pacific coast, close to major trade capitals in Asia. To fulfill this vision, ASEZA will be equipped with an airport and seaport, creating a Trimodal Transport System of land, air and sea.

Rizhao Development Corp., a 60% Filipino and 40% Chinese company engaged in port design, construction and operation, agreed to generate the preliminary design for a seaport. The design of the port is expected to be completed by January 2010.

"Aurora stands at the cusp of economic development. It is blessed with rich natural resources and great economic potential. It is a gateway to the Pacific, which makes it ideal for international commerce. This makes it a prime location for an economic zone, and more importantly, a Freeport. The free movement of goods and services lies at the core of every international success story. We have Singapore and Hongkong as local examples.," said Angara, a proud son of Baler, Aurora.

Angara reiterated his call for the empowerment of provinces to become a cog in national development and create livelihood for local communities.

"We are again taught the value of decentralization and empowering our local governments. We must make them less dependent on the capital, Manila, which has become too congested," he said.

He added, "Each region must be able to stand on its own, not just as a unit of government, but more importantly as an engine of economic growth."

The Senator called on government to give the country's various provinces the opportunity to build and stimulate their own economies.

"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," said Angara.

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