Cebu traders urge calm among stakeholders
UNCERTAIN FUTURE. Despite the holidays, the BPO sector in Cebu have something less to cheer about amid concerns that US President-elect Donald Trump may relocate jobs back to America. (CDN FILE PHOTO)
Amid anxiety over a Trump presidency possibly resulting in a relocation of US investments, Cebuano business leaders remain hopeful and have called for stakeholders to keep calm.
Philip Tan, Mandaue Chamber of Commerce and Industry (MCCI) past president, said he doesn’t think US President-elect Donald Trump can just change the system overnight.
“A period of calibration will have to be made by his team. Otherwise, it can also cause internal differences among constituents,” he told Cebu Daily News.
Tan referred to Trump’s earlier pronouncements to take all outsourced jobs back to America and rid his country of immigrants whom he alleged had robbed Americans of work intended for them.
Melanie Ng, Cebu Chamber of Commerce and Industry (CCCI) president, said she believes there are strong economic relations between the Philippines and the US.
“With the victory of President(-elect) Donald Trump, we hope these will grow and remain strong as we continue to strengthen the quality of products and services that we offer to the American market,” she said.
Based on the US census, America and the Philippines trade in goods amounting to $7.9 billion in exports and $10.23 billion in imports last year.
The US is said to be the second biggest trading partner of the Philippines, next to China.
Federico Escalona, executive director of the Philippine Exporters Confederation (Philexport) in Cebu, said he hopes Trump’s mandate will bode well for the country.
“He has been a businessman all his life and should know the consequence,” Escalona said.
A list from the Philippine Economic Zone Authority as of May this year showed there are 82 registered companies that are either partly or wholly owned by American entities or investors in Cebu.
Cebu City is home to more than 20 contact centers, 10 of which are big US-based firms including Teletech, 24/7, Convergys, Alorica, Xerox, JPMC, NCR, IBM and United Health Group.
Data from the Cebu Economic and Business Unit, a newly established unit under the office of Mayor Tomas Osmeña, showed that the industry employs 160,000 workers in Cebu City alone.
The National Economic and Development Authority in Central Visayas (Neda-7) said the BPO industry in the region generates P2 billion every month.
Cebu Business Club (CBC) President Gordon Alan “Dondi” Joseph said major diplomatic efforts will be needed to ensure the well-being of the BPO industry here.
Ma. Teresa Chan, CCCI past president, said she hopes Trump will not make it difficult for US businesses to locate to the Philippines or for Filipinos to migrate to the US.
“The US and other more developed countries still provide good opportunities for many of our people,” she said.
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