Infra works to strengthen Cebu’s appeal to investors

CEBU, Philippines - The positive impact of the ongoing infrastructure works in Cebu is seen to strengthen the province's appeal to investors, and temporary problems caused by these movements do not discouraged capitalists to locate here, a business leader said yesterday.

Cebu Chamber of Commerce and Industry (CCCI) president Ma. Teresa Chan said that investors are all the more impressed by what is happening in Cebu right now. Infrastructure fixing is no longer just on the "papers", but is actually moving.

"The bridge is on its way for repair. BRT is coming. Before 2018, the  international port will be expanded. The construction of Terminal 2 in the airport, the announcements of more direct flights from Cebu – these are good news for Cebu," said Chan.

As far as basic needs like water and power are concerned, Cebu as a province, in cooperation with the private sector is also doing something about it, Chan said.

Temporary problems caused by development is just a natural effect, and investors understand this because they are looking at the long term, said Chan.

Based on  a Visayan Electric Company report, Chan said the electricity provider promised to accommodate the expected growth of consumption in the next five years.

Likewise, players in the water supply infrastructure, not just the Metro Cebu Water District, but also private water supply firms are preparing to response to water shortage, if ever the detected El Niño will happen.

Chan said that the business sector in general is pleased that "something is happening" in Cebu, in the backdrop of election season.

She said with these movements, Cebu is seen to sustain its economic vigor, regardless of who will sit in the government leadership both local and national levels.

The lady business leader  reiterated that what Cebu is doing right now is a good signal for investors, to all the more look at Cebu as their target investment site.

Earlier, economist Bernardo Villegas said that the Philippines will achieve a moderate and encouraging growth in the medium term, regardless of who will be elected. If infrastructure were to be given utmost attention, the country will accelerate in achieving its projected position as the "New Tiger in Asia."

"We need someone who will unleash all the public-private partnership  and government projects. Because if all of these infrastructure projects will be implemented we can grow by eight to 10 percent from 2016 onwards," Villegas added. (FREEMAN)