Cryptocurrency in the plan
The head of the government-owned and controlled Cagayan Economic Zone Authority says CEZA wants to create a tourism destination that complements the splendor of the Philippine province.
“Cagayan already has a natural beauty that is hard to resist,” CEZA Administrator and CEO Raul L. Lambino told the Manila Bulletin. “What we need is to show that the Freeport can be an investment jewel in Southeast and East Asia.”
According to Asia Gaming Brief, Lambino disclosed that a Taiwanese firm and two major investors in CEZA have already expressed interest in developing a cluster of tourist attractions in Palaui, including a casino complex, hotels, villas, a themed water park, golf courses, a duty-free outlet shopping mall and other amenities.
“We are now revisiting the Freeport’s master plan to update it with the changing time,” said Lambino. “Our medium-term development is to be centered on building the conducive environment for investors to locate their businesses at the Freeport.”
CEZA also plans to diversify into cryptocurrency, the Bulletin reported. A proposed financial technology or “fintech” center could include a “blockchain center, cryptocurrency mining farm, fintech start-up incubators and cryptocurrency exchange” with the help of a Chinese company, according to local media.
Currently, reported CalvinAyre.com, some online gaming providers allow customers to pay using cryptocurrency.
