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Cebu News

Deluge of investment pledges for Cebu City

Caecent No-ot Magsumbol - The Freeman

CEBU, Philippines —  Cebu City’s aim of becoming Singapore-like is gaining ground following the positive response of potential investors to Mayor Michael Rama’s “investment begging” in Manila last week.

Apart from the pledges for the Cebu City Medical Center and the construction of more medium-rise buildings for socialized housing here, a bunch of businessmen expressed interest in investing in different projects here.

Business tycoon Manny V. Pangilinan is looking at building a solar farm with greenhouses or a build a 30-megawatt waste-to-energy plant in Cebu.

Pangilinan also encouraged Rama to consider transforming Cebu City into a walking city like Barcelona, and suggested laying down fiber optics city-wide.

Ayala Land, Inc. is also interested in taking part in transportation services that will complement the BRT, as well as agricultural development for the highlands, while Robinson’s Land Corporation is also expressing its desire for another PPP project in the city.

Another developer, Filinvest Land, Inc., is also proposing a bus system that will operate until the BRT is operational in City de Mare, its joint venture with the Cebu City Government, and Il Corso commercial strip.

Along with it, it also offered to advance the construction and paving of a city road that cuts through SRP for easier access to those who will participate or witness the Sinulog 2023.

For its part, the SM Group, led by its chairman Hans Sy, Sr. with Junior Chico, president of Engineering Design and Development, and SM Prime CEO Jeffrey Lim, has also pledged to invest in the city anew, including a new campus for the National University and an integrated transport terminal at SRP.

The initial week-long investment promotion activities combined with the adoption of Public-Private Partnership (PPP) will propel the realization of the administration’s vision for the people, according to city public information officer Cerwin Eviota.

On Flooding

Meanwhile, Rama also had an initial meeting with some national government offices following the go signal from no less than President Bongbong Marcos to address other problems in the city, including the flooding and the three-meter easement.

While Rama is begging for support from the private sector for the government offices, he is not only begging, he is demanding for them to deliver the services well, he said.

Rama also emphasized that before doing any projects, there should be proper coordination in the LGU concerned. — JMD (FREEMAN)

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