Hold more manufacturing shows in Cebu

WITH Cebu trying to attract more investments in the manufacturing sector, a Cebu Chamber of Commerce and Industry official is encouraging more organizers to bring to Cebu more events like the Manufacturing Technology Cebu to stimulate more business activities here.

CCCI president Lito Maderazo in his opening speech yesterday said exhibits that feature the latest trends in key industries like manufacturing and tourism would encourage more investments in Cebu as it would attract businessmen and investors to visit and check out what they could do in Cebu.

“This is really what we need to increase business activities in Cebu. We at CCCI has been doing a lot to promote Cebu to the global investor community and I think activities like this will complement that effort,” Maderazo said. The three-day Manufacturing Technology Cebu, PackPrintPlas Cebu and Cebu International Travel Expo 2013 officially opened yesterday at the Waterfront Cebu City Hotel and Casino. The event was attended by officials from the different regional offices of the Department of Tourism and industry players from printing to furniture sectors.

Patrick Tan, Global-Link MP Events International Inc. chief executive officer, said they have more participants this year which only shows how aggressive companies are now in promoting their products and services.

“We also expect more visitors this year. We are looking at about 7,000 visitors this year compared to over 6,300 last year,” Tan said.

He also described the exhibitors as getting bigger and their products continue to change which would benefit Cebu in terms of getting access to what’s the latest in the different processes like packaging, recycling, and more.

“For example in recycling, we have Chang Woen which is showing their latest in recycling. With the growing economy of Cebu, your population is also expanding; thus, waste management is important. While the LGUs (local government units) may not be able to invest right away, the show provides a venue where investors can look at what’s available, meet potential partners here, and maybe arrange for something like PPP (public-private partnership),” said Tan.

Investments

Based on figures from the Board of Investments, the total investments last year amounted to P360.34 billion – majority or 79.45 percent are from local investors while only 20.55 percent are from foreign direct investors (FDIs).

BOI governor Gerry Sta. Ana said that they were however expecting more FDIs this year especially with the recent upgrading of the country’s credit rating.

Sta. Ana said they are encouraging more investments in manufacturing in line with the government’s thrust toward inclusive growth.

“Because we are also trying to encourage more investors in manufacturing, we have retained the iron and steel industry in the priorities list this year for those who would be engaging in the fabrication of industrial machines and equipment,” said Sta. Ana.