Business sector: Cebu may lose investments

Weak infra scares investors

CEBU, Philippines - Capitalists have expressed concern that if government authorities in Cebu will not prioritize infrastructure projects, planned investments may get cancelled or shifted to other destinations outside the province.

Real estate developer Michael Lim, managing director of  A. Lim Development Inc., said that the government has to catch up with Cebu's fast development, by immediately adjusting the infrastructure support.

According to Lim, Cebu's bad infrastructure, especially the road network which is causing horrible traffic, is one of the few concerns that discourage investors to pursue bigger investment plans for Cebu.

Lim mentioned the prolonged road construction being done along the A,S. Fortuna street in Mandaue City that has already affected businesses operating along the stretch.

Likewise, Mandaue Chamber of Commerce and Industry (MCCI) past president Philip Tan said that with the favorable business environment, factual growth, and strong investor and tourists' appetite to come to Cebu, the government should set aside political issues and focus more on what needs to be fixed in the short term.

"Continuous growth will only be possible if government acts decisively on our worsening infrastructure and traffic congestion," said Tan adding that opportunities are wasted because of the poor insights of our government leaders.

This time, Tan said there is no room for delay, as competition is in front of us already, and that is something that confronts everybody on a daily.

"Cebu cannot afford to let the opportunities pass through (us) again," Tan reiterated this long overdue call from the private sector, for the government to be true to its promises in "serving" its people.

Tan joins other business leaders in Cebu who had been making noise to intensify pressures to the government in resolving obvious concerns that confront Cebuanos every day.

"Traffic, scarcity of  water supply, and other infrastructure support related problems in Cebu are already affecting the interest of investors, both real estate buyers and developers," said top real estate broker Anthony Gerard Leuterio.

"Let us push the realization of Bus Transit plan for Cebu. The traffic problem alone already scares investors," said Leuterio.

Although the turtle-pace movement of infrastructure fix, which brought a myriad of  problems, not only traffic, but flooding, among others, has been an issue emphasized by private sector for a long time, there is a serious need for the government sector to be reminded frequently, said Leuterio.

The obvious weak infrastructure set up in the Philippines in general, made economist Bernardo Villegas to rally in convincing Filipinos to only vote for candidates whose political platforms are geared towards infrastructure development.

"Choose a president who will solve problems in infrastructure," suggested Villegas reiterating the important role of infrastructure to economic growth. (FREEMAN)