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Monday, July 11, 2005
Cebu can stand on its own: business leader
CEBU’s economy can stand on its own even if the national economy falls apart due to the political turmoil hounding the Arroyo administration, Cebu Chamber of Commerce and Industry (CCCI) president Robert Go said in press conference Saturday.
Go issued the statement after reading a manifesto of support for President Arroyo signed by Visayas business leaders.
“Cebu has always been resilient. In fact, Cebu would have been very much better in terms of economy, growth, exports, and in terms of everything if it would have to run by itself. Cebu would probably be almost like Singapore,” Go said.
But Cebu, like all other cities in the country, has to suffer the consequences of Manila’s problems because it is part of the Philippines, he added.
“If foreign investors or tourists are discouraged to come to the Philippines, it would also include Cebu, which will hurt our tourism industry, among other investments. Then we have to work more,” Go said.
Though confident that the Arroyo administration would overcome the crisis, Go said Cebu is always ready and will always stand even if the crisis worsens.
“All of the economic developments especially in ICT and tourism will continue,” he said.
Go described the damage caused by the political crisis on the national economy as similar to the damage caused by a tsunami. “We were on the road to recovery. We know that in few years, we will be on the ground. Our debt will be paid off. But because of this political instability, we are back to deep waters. Foreign investors are shying away,” he said.
In a separate interview, Mandaue Chamber of Commerce and Industry president Eric Mendoza, who also signed the manifesto, echoed the same confidence that Cebu could stand on its own if the political crisis escalates.
“We’ve been through times when we didn’t get much support from the National government but Cebu has always made it. But we can’t be thinking of Cebu alone, but also of the country as a whole,” he told Sun.Star Cebu.
Mendoza said forcing the President to resign is not right because it will cause a huge economic setback for the nation.
Cebu and Visayas business leaders remain steadfast in their support to Arroyo.
“We insist that PGMA stay and continue to discharge her oath of office, defend the Constitution and lead the Filipino people as the duly elected president of the republic,” the Cebu and Visayas business leaders’ statement read.
Among those who signed the manifesto were Agustin Palao, Confederation of Philippine Exporters Foundation Inc. president; Guidon dela Cruz, Philippine Chamber of Commerce and Industry Region 6 governor; Carlos Co, PCCI area vice president for Visayas; Alice Queblatin, Cebu Association of Tour Operators president; Kenneth Tan, Financial Executives Institute of the Philippines (Finex) of Cebu, Inc. president; Paul Hubahib, multisectoral groups coordinator; Roberto Montelibano, Metro Bacolod Chamber of Commerce and Industry president; and Roger Lo, Tacloban Chamber of Commerce and Industry president.
Finex Manila joined the Makati Business Club and civil society groups in calling for the President’s resignation last Friday. However, Kenneth Tan, president of Finex of Cebu Inc. said they do not support their stand. Grace Paras, president of the Cebu Bankers Club, last week also denied supporting any move that violates the Constitution.
“The President has the support of PCCI and the Federation of the Filipino-Chinese Chamber of Commerce and Industry, two largest business organizations in Manila and 90 percent of the business sectors outside Manila back her up,” Go said. ALC |
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