CEBU is now regaining interest from investors abroad as the Cebu Chamber of Commerce and Industry (CCCI) is starting to get inquiries for face-to-face meetings.
This was disclosed by CCCI president Felix Taguiam during the chamber’s General Assembly on Monday, Feb. 28, 2022, at the Waterfront Cebu City Hotel and Casino.
Taguiam is hopeful that more investments will pour in to Cebu as Covid-19 restrictions are now being eased and Cebuanos have started to rebuild after Typhoon Odette.
Foreign and economic attaches from different countries have visited Cebu and requested face-to-face meetings, said Taguiam.
“These foreign and economic attaches see Cebu as an island that they will never ever forget. Businesses from their country put Cebu in their bucket list for investments,” Taguiam said.
The business leader added that he is hopeful that the new norm will bring more investments in the province.
The chamber president also commended Cebu City Mayor Michael Rama for opening the economy by issuing Executive Order 163 that eased some of the pandemic restrictions that allowed more businesses to operate.
“I can see activities, moving, trading, and everybody is smiling,” said Taguiam.
However, Taguiam said he hopes that authorities will still implement the strict protocol on the wearing of face masks.
During the program, CCCI also acknowledged several individuals and organizations that have made vital contributions to the vibrancy of Cebu’s economy.
Among those who received the awards are the Office of the Presidential Assistant for the Visayas; City Governments of Cebu, Lapu-Lapu and Mandaue; Project Balik Buhay; and the Department of Trade and Industry Central Visayas.
Cebu Gov. Gwendolyn Garcia was also recognized for her unrelenting passion and decisive leadership for opening up Cebu’s economy through game-changing measures for returning Filipinos and guests at the airport and in tourism destinations in the countryside.
The chamber also presented its efforts in advocating lowering the cost of electricity in Cebu that started in November 2019.
The chamber claims that power rates in Cebu are the most expensive in the country.
CCCI has conducted a series of meetings with the Visayan Electric Co. about the cost of power and requested interventions from various government agencies, but until now the power rates remain the same.
More members
The CCCI also reported that it has gained new members despite the series of calamities that had stricken Cebu and the country.
CCCI treasurer Aldie Garcia admitted that the finances of the chamber had been badly affected by the pandemic and the typhoon.
However, Garcia said, the chamber was able to get additional members despite these challenges.
Garcia reported a five percent year-on-year increase in members that have joined the chamber despite the mobility restrictions that have greatly affected business operations.
The chamber was also able to identify that 48 percent of its members were “gainers” at the height of the pandemic and the remaining 52 percent said they were “strugglers.”
The chamber now has 907 members with 34 sectoral organizations and five-chamber chapters in the province.