CEBU, Philippines - The Philippine Economic Zone Authority has urged the private developers in Cebu to build more economic zones, as interest from international investors, especially from Japan has heightened.
PEZA director general Lilia de Lima said that Cebu should leverage its inviting environment for investors and make it easier for them to locate here by providing ready-facility like economic zone developments.
"Cebu has all the amenities of a cosmopolitan city," De Lima said expressing optimism that investors would prefer to locate in Cebu for its attractive and conducive environment for both business and leisure.
Early this year, the Cebu Chamber of commerce and Industry considered a plan to re-visit the possibility of pushing the Cebu Economic Development Zone, as Cebu is now facing a shortage of industrial zone properties.
"We are in consultation with our business and political leaders on how and when we can push for it," said former CCCI president Lito Maderazo.
House Bill 1319, creating the Cebu Special Ecozone and Free Port, has already passed through the House's economic affairs committee, some three years ago.
The bill was authored by all the eight congressmen from Cebu and is jointly supported by local business groups.
De Lima on the other hand maintained that although Cebu needs more ecozones, the bid for a province-wide ecozone could be difficult. — Ehda M. Dagooc (FREEMAN)