CEBU City is forging a strategic alliance with the Department of Trade and Industry - Board of Investments (DTI-BOI) to promote investment in its creative entertainment sector, with a key focus on a newly established “Green Lane” for eligible investors.
Cebu City Mayor Raymond Alvin Garcia is set to formalize the collaboration through the signing of a Memorandum of Understanding (MoU) with the national investment promotion agency.
Garcia said the partnership will pave the way for joint investment promotion activities, including information drives and roadshows designed to showcase Cebu City’s potential in the creative industry.
A significant component of the MoU is the establishment of a “Green Lane,” a streamlined process intended to expedite the issuance of necessary permits and licenses for entities registered with the BOI and other strategic investments.
Garcia said this initiative seeks to alleviate bureaucratic processes and address pre- and post-investment concerns to ease doing business in the city and the province of Cebu.
Another objective of the MoU is to position Cebu as a hub for the promotion and development of the Creative Entertainment industry, which includes promoting the establishment of a Creative District in the City and implementing industry-specific and market-focused promotion efforts, as outlined in the city’s 7-point agenda for the promotion of the creative industries.
Garcia said the Creative District, which will rise at Block 27 in the North Reclamation Area, will encourage investors to come to Cebu City.
The Creative District, which will be patterned after the Cebu IT Park in Barangay Apas, is expected to generate thousands of jobs.
Garcia believes that the district will provide opportunities to Cebuanos who are seeking for jobs in the creative sector, such as filmmaking, animation, digital arts, and the like.
“Just the IT Park alone, that is employing 150,000 to 200,000, all call center agents. So, we expect almost as much. Of course, we will start small,” said Garcia.
“This is a new district that we want to create. To promote our Creative District and by doing so we are able to invite investors and locators here and, in turn, they will look for employees for their company,” he added.
Aside from employment, Garcia said this would also boost the city’s revenue through added business permits and taxes on real property.
The global creative and entertainment industry is a significant economic force, generating nearly US$2.3 trillion in annual revenue and contributing 3.1 percent to the global GDP.
This sector encompasses various areas such as cultural and creative industries, film, and other forms of entertainment.
Within the broader entertainment sector, the online entertainment market alone was valued at US$99.98 billion in 2024 and is projected to grow significantly in the coming years.
Garcia said this initiative aims to make the Creative District a home for the creative industry.
Garcia said the signing of the MoU will take place once DTI Undersecretary Ceferino Rodolfo will return to the country.
He said once signed, a series of meetings will be conducted.that will be conducted. / JPS