CCCI commends construction sector as Phl economic driver

CEBU, Philippines - The Cebu Chamber of Commerce and Industry (CCCI) commended the construction industry as one of the fastest growing business sectors and economic drivers in the country.

CCCI Assistant Board Secretary Francis Dy said during the opening ceremony of the Philconstruct Visayas 2012 yesterday that the construction sector is one of the chamber’s leading industry partners.

Aside from its Gross Domestic Product contribution, he added that the sector accounts to 5 percent of the national employment which is around two million of manpower.

He also said that the industry is fundamental to other sectors as it provides the necessary infrastructure on trade and commerce.

However, he noted that such sector is notably influenced by global economic and developmental struggles such as price increases and recession.

He then cited that CCCI is bullish that the Philconstruct event is a representation of a kindled spirit towards development and the voice of the construction sector.

As a key advocate for better business environment in the province, Dy said that the chamber is looking forward to a closer relationship with the construction industry players particularly with the organizers and exhibitors of Philconstruct Visayas 2012 towards greater business and industry development in Cebu.

In the 2011 Central Visayas Regional Economic Situationer of the National Economic and Development Authority Regional Office 7, the construction and real estate activities remained their upbeat performance last year.

It was reported that such sustained growth was driven by the strong demand for Business Process Outsourcing Industry, tourism related facilities and services, residential units in the urban centers, and expansion activities of the retail trade industry.

Last year, various big ticket projects were launched and implemented that included malls, retail trade outlets, residential condominiums and subdivision projects. (FREEMAN)