Traders see more investors, cite need to fast-track infra

BUSINESS leaders in Cebu yesterday said the top 3 ranking of Cebu City and Cebu Province in the annual competitiveness survey would attract more investors and tourists to Cebu.

But they also cited the need to fast-track infrastructure projects so as not to stifle growth and development.

“There is growth in infrastructure, yes, but it is still slow,” said Cebu Business Club president Gordon Alan Joseph.

He said infrastructure is a key factor in Cebu’s growth and should be developed further to attract more local and foreign investors. The problem, however, is not unique to Cebu, he added.

Julius Guevarra, director of Research and Advisory Services of real estate company Colliers International, said several infrastructure projects in Cebu seem to be moving slowly.

He cited the BRT project, which he said “has not taken off yet.” Detailed engineering studies are being done for the P10-billion Cebu Bus Rapid Transit (BRT) project.

Ma. Teresa B. Chan, president of Cebu Chamber of Commerce and Industry (CCCI), agreed there’s a need to fast-track the development of infrastructure in Cebu in order to keep up with the economic growth of the city and province.

“But expect more infrastructure projects for next year,” she said.

She said the awards received by Cebu City and Cebu Province “generate business for Cebu and attract more investors and tourists.”

Cebu City ranked third in overall competitiveness among the highly-urbanized cities in the 2015 Cities and Municipalities Competitiveness Index by the National Competitiveness Council. Cebu came in next to Manila (1st) and Makati (2nd).

Cebu Province ranked third among the provinces, after Davao del Sur (1st) and Misamis Oriental (2nd).

Cebu City also ranked 2nd in terms of infrastructure, second only to Manila.

Chan said these should serve as an “inspiration to do better.”

She said Cebu’s local governments should review their performance based on 28 indicators to  improve weak areas and enhance strong ones.

“We should all build on what we have achieved so far,” she said.

She also urged the private and public sectors to cooperate in order to “jointly attain growth and offset any challenges the sector might face.”

“Advice is for the private sector and government to continue joint efforts in crafting an overall plan, direction and strategy regardless of political or party affiliations in order for Cebu to go into overtime and sustain economic growth, which should trickle down to the masses,” Chan said.