THE Cebu Chamber of Commerce and Industry will now have more opportunities to help boost Cebu City’s economic growth.
CCCI president Samuel Chioson gave this statement as 31 new members were inducted into the chamber on Thursday at the Marriott Hotel.
New members included CCCI 2011 Grand Chamber awardee, Chester Cokaliong of Cokaliong Shipping Lines, Inc.
Chioson said that the increase in their members would help them boost Cebu City’s economic growth because there would be more entrepreneurs as role models of effective and responsible business practices.
Trade and Industry Secretary Gregory Domingo, who attended the induction ceremony, said he wanted to inspire both new and old members of the chamber to excel in their entrepreneurial endeavors to continue raising our country’s gross domestic product (GDP) that had reached 7.6 percent in 2010.
He said that from January to May 2011, the Philippines reached a 68.36 percent expansion in woodcraft and furniture exports, followed by a 63.83 percent growth in coconut oil exports.
He said that there was a decline in the exports of electronics because Japan, one of our leading importers, was affected by the recent tsunami. He however, noted that the industry had remained the top dollar earner of export products bringing in a total of $31.1 billion into the country.
He said that entrepreneurs should invest in rising industries such as the business process outsourcing, agribusiness, engineering design and housing.
Domingo said not many knew of the Philippines being the 4th largest shipbuilders in the world, which was made possible with its excellent engineers and welders.
He also said that entrepreneurs should take advantage of the country’s booming economy brought by increased business investment.
Domingo cited our 35.92 million labor force, 92.3 percent literacy rate, 469,654 graduates produced, and strategic location as among the factors why investors would be attracted to the Philippines.
“I see a rosy future that we can look forward to,” he said.
Domingo mentioned that the DTI is currently helping enhance capabilities of small-medium scale enterprises (SMEs) by giving them different trainings on packaging and design as well as on exporting.
He also said businessmen that they were also trying to address the complaint of would-be entrepreneurs on the slow system of granting business permits.