The Cagayan Economic Zone Authority (CEZA) has bagged $3.9-billion worth of investments from Chinese firms during the sidelines of the 2nd Belt and Road Initiative Forum in Beijing recently.

In a statement on Tuesday, CEZA Administrator and Chief Executive Officer Raul Lambino said it signed last week with Chinese companies seven memoranda of understanding and two letters of intent on undertakings, bulk of which were infrastructure projects to develop the Cagayan Special Economic Zone and Freeport in Santa Ana.