Naga ecozone locators suspend projects

The "belt tightening" measures adopted by most exporters these days, has caused the delay of proposed projects at the 40-hectare Plantersbank SME Industrial Park in Naga, Cebu.

However, Planters Development Bank, the developer of the economic zone, is confident that the property will be filled up in the next couple of years, as the export industry in Cebu has remained strong despite the global economic slump.

PlantersBank senior assistant vice president Steven Tambunting said that it is not threatening to note some locator-companies have re-schedule their plans in putting up facilities inside the zone, as the industry is currently battered by global market slowdown.

Just like any industrial zone in other areas, project activities, specifically construction of building facilities had been moved, "in general, everybody is tightening their belts."

After its formal launching in July of last year, the SME Industrial Park has attracted at least eight interested locators. This time, only one locator has started its operation.

The SME industrial Park of Plantersbank will enable Cebu's SMEs to utilize property investment to boost business productivity, provide efficient transactions and meet the growing demands of both local and foreign markets.

Significantly, the Park will also give fiscal perks of incentives similarly enjoyed by locators in the economic zone areas, such as tax and duty-free privileges, which are mostly given by big corporations of the Foreign Direct Investors (FDIs).

Tambunting said the bank is expecting to populate the whole park in the next few years, "after all, Cebu is an export City."

He said the Park is a new concept that is offered by Planters Bank, and it is expected to lure interest especially to the small and medium export companies, to avail of the fiscal perks, that are only enjoyed by "big guys."

It is understandable however, that as of this time, movements of building construction from locators is not at its peak, because of the global economic recession.

Plantersbank SME Industrial Park, is located within the New Cebu Township One (NCTO), a 250-hectare integrated development with industrial, commercial and residential components.

So far, exporters that have committed to locate at the zone include Bon Ace Fashion tools, Avatar, Nature's Legacy, Kunawara Logistics and Superior Export, among others.

The bank offers financing packages for the lots, with an average size of 2,000 square meters, to the SMEs.