CCCI: Fuel, energy concerns will not affect investors' entry

CEBU, Philippines - Despite brewing concerns over fuel and energy issues during the past few weeks, the Cebu Chamber of Commerce and Industry remains confident that these issues will not affect the entry of investors in Cebu.

CCCI Vice President for external affairs Ted Locson said that the problem on fuel would not make a significant impact on the investors. He explained that most of the investors would most likely look at the larger picture and check on what is really happening rather than listen to reports.

He said that potential investors would know that the problem on the energy supply in Cebu would be normalized by the start of next year and that the issue is currently being addressed to.

With the issue on the high price of fuel, Locson said that investors would also know that this is only temporary and that the government is looking into the alleged anomaly regarding fuel prices said to be sold higher concern in Cebu.

However, despite it deemed not to impact the investors, Locson maintained that these issues are important and should not be disregarded.

Locson said that it should not come to a point that the situation would become very critical already.

“We are very concerned. That is why we have extended our concern to the local and national government. They should also address to this, since the longer they keep the problem, the bigger it would be.”

Locson also said that the issues would also have an effect in the promotion of Cebu as the premier destination in Asia which is one of the advocacies of the chamber.

“In the short run it would not look nice,” said Locson. But he added that there are mechanisms presently being done to address this and this would greatly help alleviate the problems on energy and fuel.

Locson also explained that with regards to the fuel, they are really fighting on an explanation from the Big three- which is the three largest oil producing companies in the country, on why fuel prices in Cebu are pegged P7 higher than those in other parts of the country.

He said that if it is the freight on the delivery of fuel which the big three is making as an excuse, it would only have a P1 difference from other provinces, and not as high as P7.

Locson said that they are hoping to have answers to these issues which is not just a concern of their group but the whole community as well.