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By Bernie Cahiles-Magkilat
Four major integrated resort operators and casinos invest $ 800 million initially in the Cagayan Special Economic Zone and Freeport as they anticipate a large influx of tourists to this free port in the north of the Philippines, known for its offshore gambling activities, and a global technology center (Fintech)
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Secretary Raul L. Lambino, director and CEO of the Cagayan Economic Zone Authority (CEZA), revealed at a press conference before launch Thursday from Liannet Technology Ltd. of the Apsaras Group Ltd. based in Hong Kong. the third company to have obtained permission to operate a virtual currency exchange, that the promoters of these casinos come from Japan, Malaysia, Korea and Hong Kong.
Lambino refused to disclose these companies, but said that these four companies Itten their intention to CEZA. He said that CEZA has the power to issue licenses to these four casino operators.
The chief deputy administrator of CEZA, Raymundo Roquero, has already signed a memorandum of understanding with a large Chinese developer, who is expected to invest $ 500 million -hectare the island of Fuga, which is still part of CEZA, in an integrated resort and a casino.
As an integrated complex, Roquero said that the Chinese casino mogul will build a casino, a hotel, a theme park, a million dollars. villa per unit for the ultra-rich, theaters, among others.
Roquero says that this promoter has considered replicating the development of Jeju Island in South Korea.
The other three promoters have initial investments of $ 100 million each. formally submitted their intentions to Lambino to locate in the property of 55,000 hectares CEZA. These developers will start with the development of hotel projects and casinos.
Roquero said that the $ 800 million capital was only an initial capital because the overall investment will depend on the projects and infrastructure that they go to to build.
CEZA has approved two additional cryptocurrency offshore currency licenses for Hong Kong-based Hong Kong-based Golden Millennial QuickPay Ltd (GMQ) and Thailand's Ultra Precise.
"Modesty aside, I can honestly state this today:" CEZA's Fintech Hub is already doing the story, "Lambino said at a news conference. speech at the awarding of the license to Liannet
Lambino pointed out that the CEZA charter put them in an ideal situation to create the Fintech Hub at the blockchain, the cryptocurrency exchanges, the initial offers from coins, to payment solutions, cloud computing, big data, artificial intelligence, robo-consulting and other fintech solutions.
P3.6 billion from 39, a first batch of 25 senior holders, including their investment commitment of one million dollars each, but excluding the 0.1 percent of each transaction value generated by offshore virtual exchange services.
In addition to giving CEZA According to Mr. Lambino, the activities of FinTech créeraie There are also over 20,000 new jobs for well-paid and highly skilled information technology (IT) employees, as well as the highly technical and managerial positions required.
He said that twelve of the 17 Fintech and OVC companies, led by Golden Millennial Quickpay, fully paid their application and license fees as principal holders, five paid their application fees and 19 others have already registered to bring the total of the register. ] (function (d, s, id) {
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