CEBU continues to be a bright spot for local and foreign investors despite President Rodrigo Duterte’s tirades and the criticisms on the government’s campaign on illegal drugs.
“I don’t see any negative reactions because I’ve been meeting with investors. They do want to come in,” said Cebu Provincial Investment and Promotions Officer Benjamin Yap in an interview yesterday.
Yap said that these investors were even asking him where could they come in and which projects that they could look into.
“So in the end, these investors are here to make money by also solving our problems,” Yap said.
He also said that he had not heard yet of any investors in Cebu whether local or foreign, who had pulled out their investments because of Duterte’s tirades and criticisms
against the government’s campaign on illegal drugs.
He said that investors were still coming in from USA, European Chamber of Commerce, China, Taiwan, Asian and European nations.
“The concern is more on the cost of business, policies that can be sustained,” Yap said.
Yap was referring to the province’s challenge of finding local partners for these investors because of the law, which states that 60 percent had to be owned by local investors while 40 percent for foreign investors.
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