CEBUANO businesses must prepare for a more challenging economic environment this year, yet they remain confident in their ability to adapt and thrive, according to Regan Rex King, president of the Cebu Chamber of Commerce and Industry (CCCI).
Speaking during SunStar Cebu’s Beyond the Headlines program on Wednesday, March 11, 2026, King said rising fuel prices, supply chain pressures, and global geopolitical tensions are expected to create headwinds for businesses and households alike.
“My outlook for this year is straightforward — it will be challenging. The environment is not as easy as we want it to be,” said King.
Despite these difficulties, King emphasized that Cebu’s long-standing culture of resilience and adaptability will help businesses navigate economic shocks.
“We’ve already gone through a lot — typhoons, earthquakes, and even global conflicts,” he said. “What we do best as Cebuanos is adapt. Even rising costs are just a hiccup. Eventually, we learn to adjust and find ways to move forward.”
Innovation and efficiency key
King said companies must focus on improving efficiency and embracing innovation to offset rising operating costs, particularly those driven by higher fuel prices.
Among the strategies he highlighted were improving supply chain systems, adopting new technologies such as artificial intelligence, and identifying ways to reduce operational expenses.
“By increasing efficiency, you lower costs at the same time,” he said. “There are many tools today that can help businesses become more productive and competitive.”
He also pointed out that challenges can push businesses out of their comfort zones, often resulting in new ideas and stronger long-term strategies.
Energy and supply challenges
King acknowledged that the Philippines remains vulnerable to global energy price fluctuations due to limited power sources and continued reliance on coal-fired power plants.
“Our sources of energy are still limited and electricity in the Philippines is already expensive,” he said. “We are still developing renewable energy, so that remains a challenge.”
At the same time, he said the shift toward renewable energy could open opportunities for investment and innovation.
King also encouraged businesses to strengthen domestic supply chains to reduce reliance on imports.
For instance, manufacturers can partner with communities outside Cebu City to produce raw materials locally, creating jobs while ensuring a more stable supply.
“We can teach communities to grow or produce the materials we need,” he said. “That way, we help create jobs and reduce dependence on imports.”
Stronger collaboration needed
King also called for stronger collaboration between the private sector and government to sustain Cebu’s economic growth.
“The private sector can only do so much. We need the help of our political leaders because they craft the policies and implement them,” he said.
If government and businesses work closely together, King said Cebu can continue to grow despite external challenges.
“We owe it to Cebu to work together. If we do that, we will see a vibrant economy even in difficult times.”
Role of the chamber
As head of the Cebu Chamber, King said the organization is focusing on collaboration, training programs, and knowledge sharing to help local businesses remain competitive.
The chamber also brings in international experts and industry leaders to share best practices while organizing activities that encourage investment and innovation.
“We want to remind everyone that we must act now,” he said.
CCCI currently has more than 800 members across various industries and continues to promote the province as an investment destination under its campaign to “Invest in Cebu, Prosper in Paradise.” / KOC