Cebu business group seeks more investments

MANILA, Philippines - The Cebu Chamber of Commerce and Industry (CCCI) is aiming to attract more investments in the province particularly in information technology - business process outsourcing (IT-BPO), creative industries, tourism  and small and medium enterprises (SMEs).

CCCI president Lito Maderazo said in a telephone interview yesterday that as part of the celebration of Cebu Business Month in June, the group has identified four sectors as important drivers of economic growth of the province.

“These are the four areas where we want to attract investments,” he said.

To promote investments in the four sectors, he said major activities such as conferences and meetings between interested companies and local players have been organized for next month.

“We think there is still more room for IT-BPO growth in Cebu as many property developers are coming in and putting up buildings,” he said.

As more firms invest in IT-BPO, he said more jobs will also be created.

To encourage investments in tourism, as well as creative industries like furniture-making and other SMEs, he also said the CCCI is set to launch the Great Cebu sale which will allow visitors of the province to enjoy discounts on products and services from malls, hotels and other business establishments.

The Great Cebu sale will be launched on June 2 and run until the end of that month.

“We have invited as many establishments in Cebu to participate,” he said noting that the SM and Ayala malls as well as industrial designer Kenneth Cobonpue have committed to take part in the sale.

He said the plan is to make the Great Cebu Sale part of the Cebu Business Month celebration every year starting this year, not only to attract investments but also to encourage more tourists to visit the province.

The plan, he also said, is in line with the government’s goal to attract 10 million foreign tourists to the country by 2016.

Last year, Cebu had two million foreign visitors.