CEBU, Philippines - The Cebu Chamber of Commerce and Industry yesterday announced its plan to partner with the provincial government to address the urgent need for Cebu to have an investment and promotions bureau.
CCCI president Ma. Teresa B. Chan said that the chamber will focus on the creation of a promotions bureau immediately after the Cebu Business Month celebration, hinting that the entity may be ran in partnership with the provincial government.
Although the initial plan was for the chamber to form a new investments and promotions committee for the purpose, she said it would be best to involve the provincial government, as promotional initiatives will not only cover the Cebu City "per se" but the entire province.
She added that the chamber will also be coordinating with the Cebu City government to create a stronger private-sector-led bureau to sustain Cebu's attractiveness to global investors.
The CCCI board will nominate a business leader to head the committee, and eventually oversee the operations of the center if ever this will gain support from the local government units.
While this plan was already thought of immediately after the Cebu Promotions and Investment Center closed its operation in December last year, the idea was further reinforced by outside investment experts' call to immediately establish this vital entity for Cebu, otherwise the province will lose millions of possible revenues in investments.
Chan admitted that this problem is not only the concern of the LGUs, but the entire Cebu province as a whole.
Thus, private sector organizations like the CCCI will take a pro-active role in addressing this concern.
Chan hopes that the chamber will be able to get a favorable and immediate response from the Cebu Provincial and Cebu City governments on this matter.
Next month, CCCI will start the formalization of the investment and promotions committee and will convene the board members and officers to discuss the matter. (FREEMAN)