MANILA, Philippines – The controversial Aurora Pacific Economic Zone and Freeport Authority has abandoned its plans to develop a freeport zone in Casiguran, Aurora, the National Economic and Development Authority reported on Monday. “Apparently, APECO, the manager and operator of the zone, has veered away from the original plan of establishing a freeport zone, based on the findings of the study conducted by NEDA to assess the economic potential of the controversial project,” the state agency said. As an alternative to a freeport zone, NEDA said the establishment of an agro-aqua and ecotourism zone will help in promoting growth and development in Casiguran and other neighboring municipalities. “A well-defined market for outputs within and outside of the ecozone as well as the abundant agri-aqua raw materials and human resources in the area serve as a strong draw for locators,” the NEDA assessment noted. “This new plan would generate employment and spur development not just in the catchment area of Dilasag-Casiguran-Dinalungan in Aurora, but also in the nearby provinces,” it added. The state agency, however, did not recommend an immediate implementation of the proposal. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 ““Further investment support for the installation of all these additional facilities will be contingent on APECO’s completion of its master plan, and other essential corporate business plans and policies in place, including its land use plan. Partnership with local government units and other national agencies through dialogues and consultations would truly make the effort supportive of inclusive growth,” Read More …