The Aurora Pacific Economic Zone and Freeport Authority (APECO) is showing significant improvement in governance and fiscal management, according to the 2024 Audit Observation Memorandum (AOM) released by the Commission on Audit (COA).
The report cited reforms under APECO’s new leadership as a key factor in reversing years of operational setbacks such as delayed infrastructure projects, weak investor interest and minimal economic activity.
COA cited “notable shift in operational activities,” highlighting improvements in infrastructure upgrades, tighter financial controls, enhanced digital systems and better stakeholder engagement.
“With sound fiscal management at the core, we’re now in a stronger position to attract investments and deliver broad-based growth for Aurora and beyond,” said APECO president and chief executive Gil Taway IV.
Among the audit’s findings were APECO’s cost-saving measures, including the relocation to more affordable office space, which resulted in P1.449 million in savings in 2024.
