EDITORIAL - Maintaining the larger share of the pie

The real estate sector in Cebu is seen to further expand in 2015 owing to the rapid growth in the demand for housing and office spaces. This was according to some experts who are upbeat on the overall performance of the local economy this year.

With this projection, it would be safe to say that 2015 is yet another banner year for the local construction industry, whose rapid expansion last year saw the mushrooming of new buildings around Metro Cebu. 

The projection is based on Cebu's continuing contribution as a main force in countryside development. And because Cebu has become the country's financial capital outside Metro Manila, it is expected that this run will continue as long as the local economy remains vibrant.

However, amid stiff competition from other highly-urbanized areas, a massive campaign to attract more investments is undeniably needed. And this campaign includes improving certain areas that are beginning to give Cebu a bad image.

One of these areas that need a drastic overhaul is the bad state of the local infrastructure. For one, there is this nagging problem on the worsening traffic situation around the metro that is trapping thousands of motorists and commuters every day.

There were countless plans aimed at solving this pestering problem once and for all, such as the widening of major thoroughfares and construction of more flyovers. But they remain just proposals because implementing them would either command a huge cost or require the support of all stakeholders.

And there is also the need to establish a modern mass transport system around Metro Cebu and the entire province for easy travel. But while the bus rapid transit has started to gain ground, it is only being implemented in Cebu City and does not benefit the neighboring areas.

The deteriorating traffic situation in the metro and the lack of an integrated transport system across the province are just two of the serious problems that our local authorities should immediately address otherwise Cebu would be bound to lose its advantage as a prime investment destination in the country. 

Yes Cebu has, for decades, been the haven for local and foreign investors wanting to cash in on its large pool of talents. But given the cutthroat competition among key areas across the country, it has to step up if it wants to maintain the larger share of the investment pie.