The Cagayan Economic Zone Authority (CEZA) was mandated to supervise and manage the development of the Cagayan Special Economic Zone and Freeport (Cagayan Freeport) into a self-sustaining industrial, commercial, financial, and tourism/recreational center and Freeport with suitable retirement/ residential areas. This move was expected to create employment opportunities in and around the Cagayan Freeport, and to effectively encourage and attract legitimate and productive local and foreign investments.
The Cagayan Freeport was established by virtue of Republic Act No. 7922, otherwise known as the Cagayan Economic Zone Act of 1995.
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