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Monday, February 06, 2006
Cebu plays major role in nat’l growth targets
By Jessica B. Natad
Sun.Star Staff Reporter
CEBU plays a major role in the achievement of the government’s Medium-Term Philippine Development Plan, according to economist Cayetano Paderanga.
He pointed out that the Institute for Development and Economic Analysis Inc. (Idea) foresees a robust economy for Cebu this year especially if the proposed projects in the province will push through.
Major projects
Paderanga, who also chairs Idea, cited data from the National Economic and Development Authority (Neda) 7, which reveal that eight major projects have been pending approval since 2005.
These projects include the Center for International Trade and Expositions, completion of the Cebu South Coastal Road project, construction or improvement of roads connecting roll-on roll-off ports across provinces and regions, the construction of the Cebu North coastal road project and the upgrading of the Mactan Cebu International Airport.
Impossible
Paderanga said, during an economic briefing sponsored by the Bank of Commerce at the Waterfront Cebu City Hotel and Casino last week, that the industries thriving in Cebu, such as tourism, information technology (IT) and shipping, make it impossible for the National Government to take the province for granted.
“Cebu is the international tourism hub (for) tourism and travel industries in the Visayas and Mindanao. It is the alternative site for industries to facilitate decentralization of progress and development as well as a major port of entry for international cargo vessels,” he said.
Cebu is also a known provider of globally competitive products and services such as tourism, business process out-sourcing, shipping, shipbuilding, electronics, fashion accessories, cottage industries, trading and food processing.
Exports
From January to October last year, Cebu accounted for some 5.45 percent of Central Visayas’ total exports.
The Central Visayas region is composed of the provinces of Cebu, Bohol, Oriental Negros and Siquijor.
But Paderanga said Cebu’s share of the country’s total investment has been declining in the past few years.
Nevertheless, the Province still leads Subic and Clark investment areas, he added.
For Bisaya stories from Cebu. Click here. (February 6, 2006 issue)
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