Noy leads launching of P20-B Megaworld project

MANILA, Philippines - President Aquino led the launching of the P20-billion Mactan Newtown township development project of Megaworld Corp. in Lapu-Lapu City in Cebu yesterday.

One of the country’s real estate giants, Megaworld said it expects to complete the 20-hectare project within the next five to seven years and generate employment for 25,000 full-time business process outsourcing workers.

The President thanked local investors like businessman Andrew Tan for helping spur the country’s economic growth.

“Right now, it is election season again. So once in a while, you may see those opposed to our reforms in the newspapers and on TV, asking: Is this economic growth truly being felt by our people? Undertakings like this allow me to point out how strange those viewpoints are – because these projects are helping the economy to grow in ways that can be felt by ordinary people,” he said.

“Once this is completed, many of the businesses that will be established here will create tens of thousands of jobs for the local community, both direct and indirect,” Aquino said.

“Projects like this are valuable checkpoints for us – showing that, indeed, we have made progress. We are extremely thankful to companies like Megaworld for nourishing the Philippines towards becoming the next Asian Tiger, by actually opening their checkbooks to make serious bets on our country.”

The President said part of the complex would include a hotel, which would help provide rooms to reach revised target for domestic and international tourists.

He said the revisions in tourism targets were a result of some good news he received from Tourism Secretary Ramon Jimenez, “which I am really excited to share with you.”

In 2011, the Department of Tourism recorded 37.5 million domestic travelers, surpassing the original 2016 target of 35.5 million domestic travelers.

“Given this very positive growth in domestic travel, Secretary Jimenez and the DOT have raised the 2016 domestic tourism target to 56.1 million travelers,” the President said.

“Because of this, the country would need more than 37,000 additional rooms in our destination clusters, which include Cebu.”

Aquino said he was grateful to launch another Megaworld project as he inaugurated the top-class mall named Lucky Chinatown in Binondo, Manila more than six months ago.

“I have noticed that Megaworld’s name is popping up quite often in the list of projects that I am inaugurating, but there is no problem with that. At the rate you are investing in the country, I will be more than happy to join you for more inaugurations like this one.”

“I’m told you have major operations in Iloilo. Perhaps in my lifetime you will come visit us in Central Luzon also – I will not object,” he said.

Aquino said the Megaworld project in Cebu was ambitious and that the complex would not simply be a mall or a residential area.

“The vision is to develop another Eastwood City, which was one of Megaworld’s early successes in township-type projects. This is your first such project outside Metro Manila, and the people from around here can assure you that you’ve made the right choice. If there is any place where you can replicate your success in such projects in Metro Manila, it’s here in Cebu.”

“The workers you will find here are skillful, creative, light-hearted, while possessing an unshakeable pride in the quality of their work,” the President said.

Since assuming office, Aquino said they have made it a point to make it easier for companies to set up shop or expand in the country.

“We are making sure that we provide competitive incentives to those investing in our priority sectors, and we are making sure that the keys to success in our country are hard work and innovation, not simply a willingness to connive with crooks.

“Suffice it to say: We fully intend to send more guests to hotels in Cebu – guests who will be riding in your boats, buying your dried mangoes, and eating your famed Cebu lechon. So, to Megaworld: If you have some extra space here after all your buildings are done, you cannot go wrong with building another hotel.”                             

The President said that across all sectors, the administration, “in the coming weeks, months, and years, will continue giving you reasons to invest in the Philippines and to stay in the Philippines – and so will the Filipino people, as they always have.”

Aquino said the government would maintain business environment for investments like that of Megaworld.

“The world has recognized an upward trend in our country’s prospects. They are convinced that not only is it indeed more fun here; on top of the fun, the Philippines also actually works: It works in terms of a talented, creative, loyal labor force; it works because of an environment that allows entrepreneurs to thrive; and it works because of a newly revitalized society that has bought into a system where justice reigns, with everyone pulling together to achieve the common goal of equitable prosperity.”