The incoming president of the Cebu Chamber of Commerce and Industry will focus on three new advocacies in his term.
In an interview last Wednesday, newly elected chamber president Prudencio Gesta, who is Rizal Commercial Banking Corp.’s first vice president and regional sales and marketing for the Visayas, said he would aggressively encourage local companies to get listed in the Philippine Stock Exchange.
He will also maximize use of the Information Technology Support Office in partnership with the Intellectual Property Office.
And he will involve the chamber in ensuring peace and order in the community, which he would link with the Cebu Bankers Club.
Gesta said he would also continue with the chamber’s past thrusts in information communication technology/business process outsourcing, tourism and entrepreneurship.
PSE LISTING
“We have already signed an agreement with PSE for the campaign to encourage local businessmen to participate in the stock market, which we see as something that will eventually benefit the company and the whole economy of our country,” said Gesta.
Among their first activities with the PSE was the recently held economic forum “Philippine Economy: Coming of Age: An Economic and Investor Confidence Forum,” which updated businessmen about the economy as a whole and the current state of the Philippine stock market.
“As partners, the chamber provides for a venue where businessmen and executives from PSE and other economists and experts can come together for an exchange of information. This is one strategy that we think will be effective to educate and encourage businessmen to get their companies listed,” said Gesta.
At present, the CCCI is convincing two local companies to get listed and participate actively in the stock market, which is one way to raise funds for expansion aside from the traditional means of obtaining loans from financial institutions like banks.
Gesta said that most local businessmen are hesitant because they believe it is difficult to operate a publicly listed company and that only bigger companies can qualify for this.
“Through our series of information drives and talks with these companies, we can have better understanding about the stock market and the available products and services that PSE has for the companies. SMEs (small and medium enterprises) can actually get listed. There is a different process for them,” said Gesta.
According to Gesta, getting a company listed will benefit the local businessmen because it makes them more conscious of good governance and raises standards on how they run their company.
“That’s the ultimate benefit of becoming listed. Your processes are professionalized and in the end benefit you and your people making a healthier company.”
IT SUPPORT OFFICE
Gesta also wants to emphasize on their ITSO advocacy with IPO. He said this will also help businessmen in Cebu especially those that are producing high-value creative products.
“The ITSO, or the Patent Libraries as they are more popularly called, will help the business community get access to global technology for innovation as well as make them more aware of the need to protect their properties,” said Gesta.
The chamber recognizes the need to raise intellectual property awareness among businessmen as part of the innovation ecosystem of the country, according to Gesta.
Gesta said that they will be holding forums with executives from the World Intellectual Property Organization (WIPO).
PEACE AND ORDER
As official of the Cebu Bankers Club, Gesta said that he will be linking the chamber to CBC for different programs and to improve peace and order in the community.
“There are many programs and projects now that CBC has, which we have also worked with other organizations like the Philippine National Police and security agencies and service providers. I’d like the chamber to be also part of these projects because it will help individual businessmen ensure their businesses are safe from any theft threats,” said Gesta.
Gesta said that the peace and order network of CBC allows them to get security information like threats of a holdup gang coming to Cebu, which members then circulate to their individual members for warning.
“We see this as a proactive way of dealing with these bad elements and I think members of CCCI can benefit from information like this,” said Gesta.