CCCI to form investment, promotions body

CEBU, Philippines — The Cebu Chamber of Commerce and Industry (CCCI) announced plans to create an official investment and promotions committee to help accommodate the influx of inbound trade missions from other countries to Cebu.

CCCI president Virgilio “Nonoy” Espeleta told reporters yesterday that it is important for the chamber to create a dedicated group that will focus on working with Cebu provincial and city governments, particularly with their respective investments and promotions departments.

He said the committee may be formed within this month.

Already, the CCCI has been working with Cebu Provincial Investment and Promotions office, as well as the Cebu City’s Cebu Economic and Business Unit (C.E.B.U), in ushering in and accommodating business missions and investors’ visits to Cebu in the recent years.

However, in order to formalize this setup, a committee should be formed by the chamber to promote Cebu to investors.

“We need to collaborate,” said Espeleta, reiterating that Cebu is now hosting most number of investors’ visits or trade missions led by Chinese traders.

Espeleta added that while the government’s investment and promotions departments are effective in hosting the inbound missions, private sector’s participation is crucial in giving good impressions of foreign investors for Cebu.

“We are attracting more Chinese investors lately. They are mostly interested into construction, infrastructure, trading of goods and services,” said Espeleta.

In 2013, the Cebu City government headed by former mayor Michael Rama decided to shut down the CIPC allegedly due to political and management issues.

Other private sector observers have expressed apprehensions on the absence of a promotion center, with some even describing the absence as a step backward for the province. — JMD