CEBU, Philippines - The Cebu Provincial Government will release P3 million in financial assistance to the Cebu Chamber of Commerce and Industry, Inc. (CCCI) for its activities and programs, particularly the Cebu Business Month (CBM) celebration next month.
In an approved resolution, authored by Provincial Board Member Grecilda Sanchez, the PB authorized Cebu Gov. Hilario Davide III to enter a memorandum of agreement with CCCI for the donation.
However, the amount would only be given after CCCI submit its program concept for the activity and a detailed breakdown of expenditures.
To justify the financial assistance, Sanchez mentioned the Local Government Code, which allows local government units to promote the establishment, as well as the operation, of non-governmental organizations in becoming active partners in local autonomy development.
“CCCI has been an active partner with the Province of Cebu, and the latter has given financial and institutional support for the past successful CCCI’s undertakings, its (Capitol’s) policy being to engage and stimulate strong Public-private Partnership to aggressively promote Cebu as an investment and Tourism hub in the Asia-Pacific Region,†read a part of her resolution.
Last year, the province earmarked P5 million as financial aid for CCCI activities, particularly the 27th Confederation of Asia Pacific Chambers of Commerce and Industry Conference.
However, then Acting Governor Agnes Magpale had the amount lowered due to financial constraints.
The CBM is an institutionalized month-long jubilee of the business community with a series of events to highlight, celebrate and inspire more success in the Cebu business community.— /RHM (FREEMAN)