CCCI considers creating own investment, promotions entity

CEBU, Philippines - The Cebu business community plans to create a private sector-led tourism and investment promotions center following the announcement of the Cebu Investment and Promotions Center (CIPC) to cease its operations by the end of this month.

Cebu Chamber of Commerce and Industry (CCCI) past president Sabino Dapat said that Cebu cannot afford to lose its competitive advantage in tourism and investment with the absence of an entity designed to focus on promoting Cebu.

Dapat, who was one of the board members who resigned from CIPC due to reasons that the agency’s operations have been “politicized,” said that no other organization can effectively operate an investment and promotion center, other than the chamber.

He said CIPC was originally created as a foundation, which was supposedly a stand-alone entity that is mandated to propel investment interest for Cebu, however, because its monetary engine was sourced from the local government unit (LGU), the operations had been affected by the political divisions.

Dapat added that what happened to CIPC involves a sensitive issue that needs to be solved in due time, he said that Cebu on the other hand, needs an immediate similar entity, as competition can’t wait.

He said Cebu’s potential in the investments and tourism should be well maximized, especially at this time that ASEAN integration is coming up.

Dapat who is also the chairman of  next year’s tourism and investment events in time of the Cebu Business Month (CBM 2014), said that the private sector will then formulate a roadmap and implementing guides to set up a sustainable investment and tourism promotion for Cebu and neighboring islands.

In a report, Dapat was quoted as recalling an instance where CIPC found it difficult to receive aid from the city because of opposition by the Commission on Audit (COA).

COA said then there was conflict of interest in the city’s allocation of aid to the CIPC because then Mayor Tomas Osmeña, one of the CIPC incorporators, was also a stockholder.            Over the years, CIPC has been instrument in bringing investors to Cebu, not only those that locate within the Cebu City, but the entire province.           

It was only recently that the center has focused its promotional efforts to sell the Cebu City developed SRP, along with facilitating investors’ inquiries like those outsourcing and tourism related investments. /JOB (FREEMAN)