MANILA, Philippines — A firm from Slovak Republic is planning to build a first class hospital at the Cagayan Special Economic Zone.
In a statement, Cagayan Economic Zone Authority (CEZA) administrator and chief executive officer Raul Lambino said a memorandum of understanding has been signed with Commerce, a company from Slovak Republic, for the development of the hospital.
Lambino said the hospital is expected to “boost health care not just for freeport locators but for our people in the entire region.”
Commerce is confident it could provide health services which will allow patients, workers, tourists and all individuals in the region to experience better quality and infrastructure.
This as the hospital will be operated in compliance with European and other world-class standards.
More than providing better health services in the region, the hospital will also open new employment and income-generating opportunities in the province and the region including medical tourism and retirement communities.
“This is the beginning of a new era of health care in our region. With it, we can attract new investors and spark tourism activities,” he said.
This development comes as the CEZA is positioning the special economic zone in Cagayan as a “FinTech City” or the “Silicon Valley of Asia”.
CEZA is encouraging firms engaged in fintech solutions and cryptocurrency trading to opt to locate at the Cagayan Special Economic Zone.
It is committed to grant principal licenses to an initial 25 fintech firms this year.
So far, CEZA has granted principal licenses to three fintech and offshore virtual currency firms such as Golden Millennial Quickpay, Ultra Precise Investment Ltd. and Liannet Technology Ltd.