The Aurora Pacific Economic Zone and Freeport Authority and the Philippine Economic Zone Authority agreed to work with each other to secure support for infrastructure and the opening of online gaming companies.
Under the terms of the mutual cooperation agreement signed on July 28 by Apeco president and chief executive Israel Maducdoc and Peza director-general Charito Plaza, the two agencies agreed to “provide the necessary inputs to fast track the development of Aurora Ecozone to spur development in the countryside and in preparation for the shift to federalism.”
Peza agreed among other things to “co-promote Aurora Ecozone as a ready location for foreign investors in its investment promotions abroad.”
Under the arrangement, Apeco shall inspect and evaluate Peza-registered and accredited buildings, parks or centers “to ensure that the prospective sites of operation are suitable for online gaming operations and technical service providers particularly the availability thereof of sufficient power backup and telecommunications redundancy.”
Apeco under “parity right” expressed in Section 12B of RA 9490, as amended, may “enjoy, receive and benefit from the same privileges, licenses or concessions granted or to be granted to other ecozones and free trade zones, such as the Subic Special Economic and Freeport Zone, the Clark Special Economic and Freeport Zone, the Zamboanga City Special Economic and Freeport Zone and the Cagayan Special Economic and Freeport Zone.”
Consistent with said “parity right,” Apeco is entitled to enjoy the same rights and privileges granted by the Philippine Amusement and Gaming Corp. to Cagayan Special Economic and Freeport Zone.
