Cebu biz groups initiate forum on fiscal reform and governance

CEBU, Philippines - Big business organizations in Cebu have joined hands to conduct a Congressional Forum on Fiscal Reform and Good Governance this coming January 27, 2011, to connect with the set of executives in the government.

To be held at the Cebu Parklane International Hotel, organizations like the Mandaue Chamber of Commerce and Industry (MCCI), Cebu Business Club (CBC), and the Philippine Institute of Certified Public Accountants-Cebu Chapter (PICPA-Cebu), the forum aims at bringing the Committee on Ways and Means of the House of Representatives chaired by Congressman Hermilando Mandanas, to discuss issues on fiscal policies and good governance.

MCCI president Eric N. Mendoza said the upcoming meeting will discuss issues on fiscal policies and good governance, tax reform programs, oversight concerns on existing laws and pending bills, and other related concerns involving the business community and accounting practice in the Philippines.

The Cebu business community has long lobbied for tax reforms and incentives to allow and encourage the business community to invest more to be able to continue providing jobs to the growing unemployed population.

Representative Luigi Quisumbing of Cebu’s 6th district, along with some of the district representatives of Cebu will be present in the said to forum to listen and support the advocacies of Cebu’s business community.

In September of last year, the Cebu business sector, led by the CCCI presented to President Benigno Aquino III, its seven-point-agenda, to sustain Cebu’s dynamic economy.

The business sector emphasized top seven priority issues that affect the economic development in Cebu and the Central Visayas as whole.

The seven issues and concerns raised by the sector included; the appropriation of P4.404 billion infrastructure projects in Metro Cebu; the enhancement of tourism in Cebu and the region; reduction of fuel and power costs; modernization of the Mactan-Cebu International Airport, establishment of mass transit system, realization of the Panglao international Airport, and the possibility of pursuing the building of Cebu-Bohol bridge.

Although Aquino had only promised to study first the seven top priority concerns, however, he described the Cebu-Bohol Bridge, as “too ambitious.”

Reiterating his government’s thrust of promoting Public-Private Partnership (PPP), the President said that while the economy in the bale "while the economy is growing the infrastructure bid of Cebu can be realized with the help of the private sector.

He believes that while Cebu is getting the spotlight in the international market, with the regained confidence of the overseas investment community, “I’m sure there will be a lot of takers for these infrastructure projects from Cebu.”