CEBU, Philippines — The Cebu Provincial Investment and Promotions Office (CPIPO) is now working with 51 municipalities in the province for investment mapping and zoning.
The mapping is set to be completed in June this year, a project being prioritized by the CPIPO to catch up with the influx of investment inquiries, said Floreza D. Alpuerto, CPIPO officer-in-charge.
In an interview yesterday, Alpuerto said there is a need for Cebu to identify the strength and investment potentials in each municipality so that investment can be easily referred to depending on the identified zoning blueprint that will be formulated by the province after the mapping.
Aside from working with the investment and promotion officers in the local government units (LGUs), CPIPO is also coordinating closely with the Philippine Economic Zone Authority (PEZA), Cebu Chamber of Commerce and Industry (CCCI).
CPIPO hopes to produce the economic compendium after June this year, so that the province will be able to properly identify municipalities that will be referred to investments, depending on their capabilities and strength.
Operating in line with the national government's order to spread economic opportunities in the countryside, Alpuerto said it is essential to identify the zoning for investment opportunities in the province, so that towns will not compete with each other.
The province, also through CPIPO, is encouraging each municipality to install a dedicated municipal investment and promotions officer, as stipulated in the local government code.
At present, there are big tickets investments that are exploring possible high-employment generating plants in the countryside areas, such as the planned cement manufacturing plant in Malabuyoc in the southwestern coast of Cebu.
The Cebu Chamber of Commerce and Industry (CCCI) has been advocating for a province-wide economic zone concept.
Former CCCI president Melanie Ng said that the chamber is offering its hands to help the government identify the towns and municipalities in Cebu province which have good potential for economic zone sites.
Since every town or municipalities has its own niche, like the probable coffee plantation or agribusiness advantage, a thorough study and feasibility should be started.
"We are supportive of the administration's initiative to put up economic zones outside of urban centers," said Ng in an earlier interview.
Aside from luring more FDIs (foreign direct investments) through establishments of more economic zones, local companies could also avail of the perks and incentives uniquely offered by the Philippine Economic Zone Authority (PEZA).
Establishment of countryside economic zones, could also offer opportunities for local government units (LGUs) to pursue PPP (private-public-partnership) with local investors who are interested to venture into this kind of project.