Rama: CIPC should resolve internal conflict

THE Cebu Investment Promotions Center (CIPC) will have to resolve “internal conflict” first before Cebu City Mayor Michael Rama will authorize the release of their P5 million annual subsidy.

Rama said that the resignation of four members of the CIPC board of trustees was an indication that “there could be a problem with trust and confidence” among its members.

He also corrected an earlier pronouncement of former mayor and south district congressman Tomas Osmeña that he wants to dissolve the CIPC board so its managing director Joel Marie Yu will be replaced.

Yu is said to be a supporter of Osmeña’s political group Bando Osmeña Pundok Kagawasan (BOPK).

“I cannot be blamed for what happened to CIPC. The big question is why was there a mass resignation?” asked Rama upon his return from a week-long trip to Taiwan on Thursday evening.

Meeting

The mayor also announced that his planned meeting with former CIPC chairman Geronimo Sta. Ana will push through.

In that meeting, Rama said he wanted to be enlightened on the resignation of CIPC board members Augusto Go, vice chairman, Rogelio Lim and Enrique Benedicto.

Rama said that he had to create the SRP management office under Roberto “Bo” Varquez a former CIPC board member after the Japanese International Cooperation Agency (Jica) which had extended the loan for the SRP noted slow development in the 300-hectare reclaimed real estate.

Despite the CIPC problems, Rama said it can still promote the SRP and invite foreign investors to Cebu.