The Cagayan Economic Zone Authority (CEZA) and Sinosun Subic Bay Holdings Corp. signed an agreement on Thursday to develop the Cagayan Special Economic Zone and Free Port (CSEZFP), where a “financial technology (fintech) city” is expected to be established with the help of a Chinese company.

Under the memorandum of understanding signed at CEZA headquarters in Pasig City, Sinosun will commission a feasibility study on infrastructural and economic development to attract future investments in the economic zone.

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