Province okays office for investment promotion and economic development

CEBU, Philippines — Cebu Provincial Government is strengthening its bid to attract investments with the 17th Sangguniang Panlalawigan's approval of an ordinance creating a dedicated office for investment promotion and economic development during the regular session last Monday, October 5.

Authored by 1st District Board Member Lakambini “Neneth” Reluya, the measure seeks to establish a centralized office to coordinate investment and economic development initiatives, market Cebu as an investment destination, and help investors navigate government services.

The ordinance, known as the “Cebu Provincial Investment and Economic Office (CPIEO) Ordinance of 2026,” declares the provincial government’s policy of promoting sustainable and inclusive economic growth through investment promotion, enterprise development, innovation, economic competitiveness and strategic partnerships.

However, the establishment of the CPIEO as the province’s principal investment and economic development office remains subject to approval by the Department of Budget and Management.

Under the measure, the new office will formulate, coordinate, implement and monitor policies and programs covering investment promotion, investor services, enterprise development, innovation and sustainable economic growth.

It will also serve as the province’s central coordinating and facilitating office for investment and economic development, without replacing the mandates of existing provincial government offices.

Among its key responsibilities is to market Cebu to prospective investors, identify investment opportunities and organize investment missions and business forums to attract business activities to the province.

The office will also assist investors in accessing government services, address investment-related concerns and provide aftercare services to help retain existing investments and encourage businesses to expand their operations.

Beyond attracting investors, the CPIEO will support micro, small, and medium enterprises, cooperatives and other businesses through entrepreneurship and innovation programs, technology adoption, capacity-building activities, market linkages, and other business support initiatives.

The office will also conduct feasibility studies and market research, identify strategic economic projects and provide policy recommendations to improve the province’s economic competitiveness.

To strengthen coordination with local governments, the CPIEO will work with local government units (LGUs) and their Local Economic Development and Investment Promotion Offices, providing technical assistance, advisory services, information sharing and capacity-building activities.

It may also convene forums, workshops and other collaborative activities involving LGUs and economic development stakeholders to facilitate the exchange of information and coordinate investment-related initiatives.

The ordinance authorizes the CPIEO to establish partnerships with national government agencies, government-owned and controlled corporations, academic institutions, business organizations, chambers of commerce, development partners, civil society groups and international organizations.

To guide policy-making, the office will maintain economic and investment databases and facilitate research and data-sharing partnerships. These resources are intended to support evidence-based planning and decisions on provincial economic development.

The CPIEO will also be required to prepare an Annual Economic and Investment Report for submission to the governor and the Sangguniang Panlalawigan. The report will cover investment promotion activities, enterprise development initiatives, strategic investments, economic trends, competitiveness indicators and economic enterprise development.

The report may also recommend policies, programs and projects aimed at generating investments, promoting innovation, developing enterprises and advancing sustainable economic growth. It may be used as a reference in provincial economic planning and policy formulation.

CPIPD functions to be transferred

A key provision of the ordinance transfers the investment promotion, enterprise development, economic enterprise development and related functions currently handled by the Cebu Provincial Investment Promotions Division (CPIPD) to the new office.

Upon the ordinance’s effectivity, the CPIEO will succeed the CPIPD as the province’s principal office responsible for these functions. Records, documents, databases, information systems, equipment and other resources associated with the transferred responsibilities will also be turned over in accordance with applicable accounting, auditing, inventory and property regulations.

Existing CPIPD personnel may continue performing their duties until positions in the new office are filled or until otherwise directed by the proper authority. The ordinance also provides that the transition will not diminish employees’ vested rights, compensation, benefits, security of tenure and other privileges protected by law.

Programs, projects, activities, agreements and partnerships previously administered by the CPIPD that are consistent with the CPIEO’s mandate will continue under the new office. The CPIEO will likewise assume the rights, responsibilities, obligations and commitments arising from the transferred activities, subject to applicable laws, regulations, contracts, and agreements.

The ordinance clarifies that the creation of the CPIEO will not abolish or diminish the authority of the Economic Enterprise Council. Instead, the new office will serve as the council’s technical and administrative secretariat, providing research, documentation, records management and coordination support. It will not exercise policy-making authority over the council unless expressly authorized by ordinance.

Within 90 days after the ordinance takes effect, the Provincial Investment and Economic Officer, in coordination with the Human Resource Management Office, Provincial Budget Office, Provincial Legal Office, Provincial Treasurer’s Office and other concerned offices, will formulate and recommend implementing rules and regulations for approval by Governor Pamela Baricuatro.

The CPIEO will be composed of two divisions: the Investment Promotion and Enterprise Development Division, and the Administrative Support and Legal Services Division. (CEBU NEWS)