Aurora: The head of the Aurora Pacific Economic Zone and Freeport Authority (APECO) is optimistic about the property's sustained development following the signing of this year's national budget.

According to Philippines News Agency, APECO President and Chief Executive Officer Gil Taway shared that data from the Department of Budget and Management (DBM) indicates the agency's approved budget this year is PHP381.54 million, marking a 49 percent increase from last year's PHP256.02 million. APECO had requested an additional PHP119 million during the budget deliberations.

"I think that (will be) enough to finish some unfinished work," Taway stated. The priority projects for APECO include the two-hectare Corporate Campus Development, the expansion of accommodation facilities known as the APECO Legacy Villas, and a central expressway linking the freeport's two industrial areas.

Tourism-related projects are also under consideration, particularly the airport terminal building, which currently accommodates only chartered flights. Taway emphasized that the terminal is crucial for attracting investors and tourists, given APECO's strategic location facing the Pacific Ocean. The terminal project is slated for bidding by February, with construction completion aimed for August or September. Funding for these initiatives will be derived from a combination of this year's budget and savings from unfinished projects prior to Taway's assumption in 2023.

The projects are intended to enhance the freeport's attractiveness to potential locators. Taway highlighted last year's achievements, including the signing of operations and management agreements with firms in the health, defense, and security sectors. Furthermore, APECO is contemplating the development of anchor facilities or a jetty port for cruise ships and container vessels.

A decision on the implementation of the jetty port project, whether through a joint venture or public-private partnership, is anticipated this year, with bidding expected to occur next year. Taway noted that the plan is to ensure the port can accommodate Panamax ships, the large vessels capable of crossing the Panama Canal.