Thursday, June 14, 2007 Cebu eco-zone proposal gets backing of new club
THE Cebu Chamber of Commerce and Industry (CCCI) welcomes the gesture of the newly revived Cebu Business Club (CBC) to collaborate with the CCCI for the province-wide Cebu economic zone (ecozone) project.
“Anyone who believes in it is welcome to help and support us,” CCCI president Francis Monera said.
“This is to make Cebu not just the most competitive city in the Philippines but also the most investor-friendly and competitive province in the world,” he told reporters in an interview.
CBC president Dondi Joseph earlier said the business club is willing to collaborate with CCCI in pursuing the Cebu ecozone project.
Monera said additional support, especially one coming from the private sector, will help ensure the success of the project.
The Cebu ecozone project, a CCCI undertaking, aims to convince the National Government to proclaim the entire province of Cebu as an ecozone.
More investments
It is envisioned to encourage the influx of more investments into the province by building up the necessary capabilities, creating an enabling environment and reducing the cost of doing business in the area.
Monera said that if Cebu is declared an ecozone by the Philippine Economic Zone Authority, it will be the first province in the country to achieve the status.
If this is realized, he said the problem of overpopulation in urban areas will also be solved because economic development will occur not only in the cities but in the entire province, resulting in the dispersal of job opportunities to the rural areas.
“We may identify complementary zoning in the whole province for an integrated area of development,” Monera said.
Firms located in ecozones enjoy income tax holidays. They also have the option to pay a special five percent tax on gross income, instead of national and local taxes.
Ecozone locators, though, are still required to pay real property taxes.
Capitol’s support
The Cebu ecozone proposal has already gained the support of the Cebu Provincial Government, some town mayors and local government units, and the International Finance Corp. of the World Bank.
The German Agency for Technical Cooperation (GTZ) is funding CCCI’s feasibility study for the ecozone project.
The Cebu ecozone proponents have tapped the expertise of economist and corporate governance advocate Dr. Jesus Estanislao, who stands as the project consultant.
Meanwhile, Monera said CBC’s involvement will belie rumors that both CBC and CCCI are in serious competition.
“I don’t see ourselves competing against each other because we allow cross membership,” he said.
Joseph also clarified earlier that the club does not consider itself as a competitor of existing business groups like CCCI, Mandaue Chamber of Commerce and Industry, and the Lapu-Lapu and Cordova Chamber of Commerce and Industry but sees itself as an ally in developing Cebu’s business climate.
CBC is a sister organization of the Makati Business Club. (MMM)
