City aiming to get Indian investors
CEBU, Philippines — Cebu City Mayor Nestor Archival is trying to convince one of the world’s largest insurance brokerage and risk management firms, Gallagher, along with investors from India, to expand operations in Cebu City.
The move, if finalized, could generate about 3,000 jobs for local residents and further cement Cebu’s standing as a premier investment hub in the Philippines.
Gallagher executives and Indian investors met with Archival at the Mayor’s Office the other day to discuss their expansion plans.
The group is weighing options between Cebu and Iloilo, with Cebu City emerging as the frontrunner, likely locating in the Cebu IT Park according to the city’s public information office.
Archival assured the delegation that Cebu is ready to host more investors, citing preparations such as two command centers for public safety and emergency response, and a 24/7 City Hall satellite office in IT Park to address IT-BPO industry concerns.
“Padayon ta sa paningkamot nga makadani og dugang investments sa atong siyudad. Kay kada bag-ong negosyo nga moabot sa Cebu, mas daghan pud og trabaho ug opportunities para sa atong mga Cebuano,” he said.
The City Planning and Development Office highlighted Cebu’s strong economic fundamentals, noting that Central Visayas posted a ?1.38-trillion GDP in 2023 at constant 2018 prices, with Cebu Province contributing 29.8% and Cebu City accounting for 22.6%, the second largest share in the region.
Officials from PEZA, DTI-BOI, and the Cebu Investment and Business Office joined the discussions, with DePDev head Evelyn Macario designated as the contact person for the investment. — (FREEMAN)
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