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Thursday, February 24, 2005
DTI vows to help Cebu improve its potentials
By Jessica Banzon-NatadSun.Star Staff Reporter
THE new chief of the Department of Trade and Industry (DTI) has promised to give more attention to Cebu to further develop the area’s economic potentials.
DTI Secretary Juan Santos also expressed his confidence in Cebu during the Cebu leg of the Yearend Economic Briefing of the Philippine Government at the Waterfront Cebu City Hotel and Casino earlier this month.
“I personally believe that more attention should be given to you (Cebu). But for now, I believe that the establishment of a Malaca-ñang in Cebu is a manifestation of the President’s (Gloria Arroyo’s) recognition of your contribution to the economy and progress of the country,” he said.
Santos, a former chief executive officer of Nestle Philippines, cited the growth of Region 7’s exports last year, which was dominated by exports originating from Cebu.
Central Visayas’ export growth of 21 percent is big compared with the country’s 9.9 percent growth, he said.
According to the region’s Technical Working Group, exports in Central Visayas last year increased 21 percent to $4.15 billion from $3.43 billion in 2003.
Central Visayas’ $4.15 billion worth of exports accounts for 10.5 percent of the country’s total exports of $39.598 billion in 2004.
Santos said one of DTI’s thrusts this year is to rationalize the government’s incentives system to sustain and enhance the stream of investments into the country.
“Today, there are lots of agencies working on it (incentives). Hopefully, we can put things together,” he said.
Foreign-based companies earlier complained about the inconsistencies in the incentives granted by the Board of Investments and the Philippine Economic Zone Authority (Peza), which are both under the DTI.
NEC Telecom Software Philippines (NSP) president Masaharu Kawasumi’s concern was that Peza no longer granted NSP incentives after it relocated to the Asiatown IT Park.
Peza had promised to grant incentives, such as income tax holidays and exemption from taxes on imported capital equipment, to information technology (IT) firms located in Peza-registered IT parks.
NSP was earlier registered with the BOI when it was still located at the Keppel Building at the Cebu Business Park. It previously enjoyed incentives from the BOI.
DTI 7 Regional Director Aster Caberte has helped Kawasumi with this concern.
During the briefing, Santos said the DTI’s investment promotions this year will focus on mining, electronics, motor vehicles, IT, health care and well-ness, tourism, shipbuilding, fashion garments, jewelry, agribusiness and infrastructure.
He said the DTI will also aggressively push for the development of small and medium enterprises (SMEs) through its SME Unified Lending Opportunities for National Growth (Sulong) program.
The DTI aims to increase Sulong loan releases this year to P28.8 billion. (JBN)
(February 24, 2005 issue)
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