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Gaming firms in Cagayan freeport must pay CEZA P149-M in licensing arrears -COA

Published July 25, 2021, 2:14 PM
The Commission on Audit (COA) has called on state-owned Cagayan Economic Zone Authority to immediately collect over P148 million in lease and other financial obligations owed by Cagayan Freeport business locators and gaming licensees, including the on-line and land-based gaming operator First Cagayan Leisure and Resort Corporation (FCLRC).
COA logo and building COA, in its 2020 CEZA Annual Audit Report, noted that eight locators and licensees have been remiss in their financial responsibilities between 30 days to 10 years now.
COA said that as a result of the huge amounts in unpaid financial obligations, the locators and gaming licensees have deprived “the Authority of funds that could have been used in its operations.” Much of the arrears were incurred by major CEZA gaming licensees FCLRC and North Cagayan Gaming and Amusement Corporation (NCGAC). ....

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CEZA crypto project on right economic dev't path, says Lambino – Manila Bulletin

Published February 10, 2021, 8:00 AM
The crypto currency tack of the Cagayan Special Economic Zone and Freeport is right on track with the economic development path, not just in the Philippines but, globally.
This was stressed by Secretary Raul Lambino, who is also administrator and CEO of the Cagayan Economic Zone Authority (CEZA), the operator of the ecozone and freeport.
When he assumed office in 2017, launched the “Crypto Valley in Asia.” The future growth of the Cagayan Special Economic Zone and Freeport, he said, would be driven by new technology and innovative ideas, of which the cryptocurrency was the leading product.
The choices he made as Administrator and CEO of the Cagayan Economic Zone Authority (CEZA), which is in charge of the development and management of the Cagayan Freeport, have led the Zone on a high-growth path. ....

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