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Tuesday, July 25, 2006
Competitive power costs ‘good for Cebu’
Bringing down power costs will be favorable for the investment climate in Cebu, Cebu Chamber of Commerce and Industry (CCCI) president Francis Monera said.
President Arroyo, in her State of the Nation Address yesterday, said aside from providing affordable food for the labor sector, putting up modern infrastructure and logistics and cutting on red tape to lower the cost of doing business, the country needs to a competitive power cost to lure investors.
“Power is a very basic infrastructure in Cebu. The faster and earlier the cost is lowered, the better. If it means having our own power infrastructure, it’s good for Cebu,” Monera said when sought for reaction.
“The effort to bring down cost should start with power,” Cebu Investment Promotions Center managing director Joel Mari Yu said.
On Arroyo’s plan to set up mega-regions with Central Visayas becoming part of Central Philippines, Yu said it will be favorable for the region.
“The economy of Central Luzon is always bigger compared to Visayas. If the gap is reversed, it’s wonderful,” he said.
Cyber corridor
With the inclusion of Cebu as a cyber corridor, Monera said that “this is something that has been there” but now more focus on the promotion of information and communication technology is needed.
A cut on the cost of long distance charges from 60 centavos to 40 centavos, he said, has resulted in savings for majority of the businesses.
“The drop of telecommunication costs is important for the ICT businesses and Cebu is very strong in the ICT industry. There is not much emphasis on education because it takes a long term solution to our multitude of problems,” Monera said in an interview.
Aside from ICT, Central Philippines will be promoted for tourism.
However, Monera does not consider a threat the establishment of airports in Romblon and Bohol.
“It will be good for Cebu because we are the hub. If accessibility in these areas improve, then it’s good for Cebu’s tourism,” he said.
Yu, on the other hand, is hopeful that the latest developments in the South Reclamation Project (SRP) will attract more investors.
“I am positive and optimistic about SRP. The investors are more on the manufacturing industries looking for expansion of their companies. Power lines are almost up to 96 percent complete. Now that power is in, we will act on the water desalination plant,” he said. (MMM)
For Bisaya stories from Cebu. Click here. (July 25, 2006 issue)
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