Wednesday, November 14, 2007 Group foresees further growth of local economy
AN official of the association of treasury practitioners from different local and foreign financial institutions said Cebu has huge potentials in the capital markets.
“Cebu’s economy has grown by leaps and bounds,” said Sergio Edeza, former national treasurer and president of the Money Market Association of the Philippines (Mart).
“One of the biggest signs is the physical transformation the Cebu landscape has undertaken in the last few years,” he said. “Foreign and Manila-based companies have also discovered the queen city as an excellent alternative location, such that a good number have already set up their offices here. This increased economic activity gave birth to more sophisticated investors.”
Mart celebrated its 36th anniversary by holding the the 10th Mart Consciousness Week. As part of the celebration, Mart conducted a briefing on market outlook for businessmen and investors in Cebu City, as well as a forum on career opportunities in treasury for senior students at the University of San Jose Recoletos.
“Cebu is an ideal venue for these activities because of its well-developed capital market,” said Edeza, who is also the executive vice president (EVP)-treasurer of Rizal Commercial Banking Corp.
Roberto Juanchito Dispo, Mart director and EVP-treasurer for First Metro Investment Corp., said the group presented to Cebu’s investors likely scenarios that will unfold in 2008, interest rate outlook, foreign exchange, fiscal and monetary indicators.
“Next to Manila, Cebu is the next important location, it represents the south,” said Edeza.
Mart Cebu Chapter is headed by Dina Ramos of Banco de Oro. (PR)
