News » CEZA earns big from blockchain firms

CEZA earns big from blockchain firms

CEZA earns big from blockchain firms

State-owned Cagayan Economic Zone Authority (CEZA) has paid PHP83.32 million in taxes for the first nine months of this year. CEZA administrator and chief executive Paul Lambino said this was a turnaround from last year when it incurred a net loss of PHP64.92 million after losing its major revenues from online gaming. He said the agency recouped its losses after encouraging firms involved in blockchain technology to set up centers in its economic zones. This drove CEZA’s revenue to PHP518.3 million following the first three quarters of 2018, 212% higher than the PHP166.34 million in the same period last year. Lambino said CEZA will not rely solely on financial technology (fintech) firms as it expands its offerings to industrial and tourism investments and other industries to set up shop here.

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.