CCCI studies viability of Cebu-wide ecozone

The Cebu Chamber of Commerce and Industry (CCCI) has created a study group to pursue a comprehensive feasibility probe and benchmarking activities to support its plan in making the entire Cebu an economic zone province.

The CCCI Cebu province-wide economic zone study group is headed by the CCCI past president Geronimo Sta. Ana.

Last week, CCCI executives led by president Francis O. Monera held a meeting to discuss this ambitious project. The group will soon kick off extensive benchmarking and studies.

According to Monera, the initial meeting discussed the possibility of looking at the global criteria for business competitiveness and comparative competitiveness of countries.

"The general idea is towards Cebu becoming globally competitive through especial economic zone concept," Monera said.

He said the meeting was part of a series of meetings of CCCI's eco-zone study group.

Although, the concept entails hard work and pro-active series of advocacy, which initially steered unfavorable acceptance from the local government units (LGUs) especially in Cebu City, because of foreseen decreased tax revenue issues, the chamber is optimistic that it can push through with the idea.

Monera said the chamber would find a way to get funding sources, especially from international funding agencies on this project, as it is seen to bolster economic growth, not only in selected cities and towns in Cebu province, but province-wide.

This will be the time that far-flung and sleepy towns will be able to attract investments, while providing residents with employment opportunities, and possible economic difficulty relief.

In the Philippines, economic zones are only contained in identified areas, such as the Mactan Export Zone (1 and 2), wherein locators enjoy tax holidays and other fiscal perks.

The chamber's initiative in pushing a province-wide economic zone concept in Cebu is to distribute investment opportunities not only in the urban and sub-urban areas, but also in remote towns, where other industry investors can set up plants, and business operations.

During one of the recent visits of President Gloria Macapagal Arroyo in Cebu, Monera personally presented this concept to the President, and the idea got a nod from Arroyo, although she said that CCCI will have to partner with the LGUs in this plan, because it deals with sensitive issues, like revenue collection.

For his part, economist Cayetano W. Paderanga said although the concept is possible in the Philippines. CCCI must, however, be ready to support it with sound concept proposal to lawmakers and LGU executives.

"It's a possible plan, but it requires [major] discussions, and lobbying with the policy makers," Paderanga said.