Surge in Australian investors seen

Australian investors are expected to ramp up their investments in the Philippines starting next year.

Cagayan Economic Zone Authority (CEZA) administrator and chief executive officer Raul Lambino said several Australian firms have already expressed their interest to locate in the country’s various economic zones, including the Cagayan Special Economic Zone and Freeport.

Lambino was among the key officials who attended a recent investment roadshow in Australia which was organized by the Department of Trade and Industry.

Among the areas where Australian firms expressed “deep interest” to invest in are eco-tourism, agri-industrial and information communication technology, Lambino said.

The CEZA chief said President Duterte’s “pursuit of what is right” has become a game-changer in attracting business leaders around the world to take a closer look at the Philippine market.

For one, he said the government has rolled out a five-year P9.5 trillion infrastructure program which includes heavy spending on roads, bridges, airports and seaports that would make the country an “excellent haven for investment and business to thrive.”

“Australia is a close friend and ally,” Lambino said.

Lambino said the Cagayan Special Economic Zone should be among the investment destinations of choice in the country given its strategic location near major ports and cities in the Asia-Pacific region and along international sea routes that lead to Australia and the US West Coast.

As the newly-designated CEZA administrator, Lambino has vowed to undertake key reforms to make the 54,000-hectare economic zone more attractive to investors.