Quezon City, Metro Manila – The Aurora Pacific Economic Zone and Freeport Authority (APECO) has signed a letter-agreement to explore a partnership and sets the agreement in principle with the Philippine Aerospace Development Corporation (PADC), a GOCC under the Department of National Defense. Signing in behalf of APECO was President and Chief Executive Officer, Atty. Gil G. Taway IV with counterparty signed by PADC President and Chief Executive Officer, Atty. Raymond L. Mitra on January 19, 2024 at the Luxent Hotel, Quezon City.
More than the infusion of capital and investment, this endeavor is seen to boost the local economy with the creation of new jobs and other allied business ventures such as logistics. The signing marks a new dawn for APECO as it pivots towards supporting President Ferdinand R. Marcos Jr’s Administration thrust for Food Security in safeguarding the Philippine Rise and its vital fishing and aquatic resources, Energy security as it develops green energy development initiatives, and SRDP with its partnership with PADC to create a defense industry hub for aerospace and air defense.
The agreement between APECO and PADC shall begin the series of formal steps to enter into a Memorandum of Agreement, Lease Agreement, and Investment Contract covering at least 25 hectares of the Industrial Zone of the Ecozone. PADC, as a main proponent of the Self-Reliant Defense Posture Program (SRDP) and a driving force behind AFP modernization has identified APECO, given its strategic location and careful planning, as the future home of its Maintenance/Repair/Overhaul operations for air assets of the Armed Forces of the Philippines, Philippine Coast Guard, and other private clientele.
The Ecozone has an existing airstrip with facilities for general aviation that can already accommodate military aircraft and chartered flights, but is being prepared for expansions and upgrade for civil aviation and commercial operations. Located in Casiguran sound, South of Motyong point, the angling of the airstrip makes it ideal for flights with tailwinds coming from the Northeast during the Amihan season and the Southwest during the Habagat season.
PADC investment in APECO shall also house its new flagship drone program that seeks to introduce new defense capabilities and force multipliers for the AFP and the key allies of the Philippines called the “PhAero” program with their flagship Lawin Drone platform, and shall work closely with APECO to attract Original Equipment Manufacturers to also locate in the area and bring development.
The signing was also reported by four media outlets, the Daily Tribune, the Journal Daily news online, Malaya Business Insight and the Catanduanes Tribune.
