Aquino cites 278 locators as proof of business confidence
President Aquino yesterday made a pitch for Asia Pacific investors to explore Cebu even as a Malaysian businessman said maritime education was a good area for partnership despite the conflict in Sabah.
“I am confident that you can see a revitalized community here. We have planted the seeds of reform and have been reaping the results,” the President said in a speech read for him by Cabinet Secretary Rene Almendras before delegates of the Confederation of Chambers of Commerce and Industry conference in Cebu City.
“Here (in Cebu) alone we have six economic zones where you can invest,” said Aquino.
Three zones are export processing centers in Mactan, one focuses on ship building in the west coast town of Balamban, one zone is in northern Danao City and the IT Park in Cebu City is a busy hub of call centers.
Possible partnership
Dato ‘Ghazali Dato’ Yusoff, a delegate from, told a press conference they are still looking at areas for possible partnership despite the conflict in Sabah.
One area is the maritime industry. Yusoff said he wanted to talk with the University of Cebu about its maritime program.
“We are holding a maritime conference in Malaysia this September and I will be proposing to have the second conference in Cebu next year. These are areas that we can engage together with Malaysia and the Philippines being both archipelagic,” said Yusoff.
Yusoff said they are looking at three areas of engagement with counterpart business chambers in the Philippines — an exchange of teachers; sports, recreation and social activities; and, curriculum development.
“We can exchange teachers among universities to learn from each other’s best practices in instruction,” said Yusoff.
For curriculum, Yusoff said a global outlook rather than a one-country basis should be developed “like looking at the future of maritime studies in the world and do this on a regional scale.”
Businessmen should keep open communications lines and use “person-to-person” engagement to achieve healthy trade relations in the region despite territorial disputes in some countries, said CACCI president Ambassador Benedicto Yujuico.
Yujuico told reporters that businessmen have a role in assisting government “if asked” when there are issues that could affect trading relations and economic growth.
“In Sabah for example, hopefully the shooting will stop. However there is another issue about at least a million Filipinos who are there. What will happen if suddenly all of them decide to come back to the Philippines? Who will provide them employment? Where will the government locate them? These are issues that result in this small problem now and if we in business suddenly don’t talk to each other because of this small problem then that is the time that we start shooting each other,” said Yujuico in the press conference.
In his keynote speech, President Aquino assured that the “Philippines is open for business under new management” and has put in place mechanisms that will assure investors growth in whatever they decide to setup in the country.
On a national scale, Aquino cited the 6.6 gross domestic product (GDP) of the Philippines last year saying it surpassed growth estimates of the government.
Level playing field
He said there is a level playing field for all investors, the government is chanelling more funds into education, health and social services and has made strides in reducing corruption that has hindered economic growth in the past.
Aquino said there are at least 278 locators in Cebu’s economic zones producing $3.58 billion in goods, including semiconductors and electronic products.
“We also have 139 outsourcing companies here now employing 95,000,” said Aquino.
These companies handle customer support services as well as high-end and back office processes like medical transcriptions, software developments and website designing.
Last year alone 17 new outsourcing companies set up centers in Cebu requiring 11,000 employees, mostly software developers and those with IT-related skills, according to managing director Joel Mari Yu of the Cebu Investments and Promotions Center in a previous interview.
This year, 24 new companies are planning to open in Cebu, including two in Mactan Newtown Center which will operate by April.
It was Cebu’s first time to host the international conference which was held at the Radisson Blu Hotel.
Active promotion
In a press conference, Lito Maderazo, president of the Cebu Chamber of Commerce and Industry (CCCI), said this marks the beginning of more active promotion of Cebu.
“The economic driver of Cebu is trade and investments aside from being an education capital in the region (Visayas and Mindanao). Consider this conference a coming out party for us in making Cebu an investment hub not only for the country but in Asia-Pacific,” said Maderazo.
About 475 delegates from 19 countries attended the conference.
