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PIA Press Release
2010/09/16

Pres. Aquino receives 7 priority issues from Cebu's biz sector

Cebu City (16 September) -- Seven wish list were submitted to Pres. Benigno Aquino III by Cebu's business leaders and their counterparts in the neighboring provinces of Central Visayas to make the country's business climate more conducive to investors.

Infrastructure is the top priority in the list of issues submitted by the local business sector amounting to P4.4B projects as endorsed by the Regional Development Council (RDC-7).

The P4.4B worth of infrastructure projects that were endorsed by the RDC-7 included drainage improvement, road expansion, road concreting, construction of flyovers and the repair of the 1st Mandaue-Mactan Bridge.

Other issues in the list are tourism development, reduction of fuel and power costs, modernization and expansion of the Mactan Cebu International Airport, establishment of the mass transit system, construction of the Panglao International Airport and the building of the Cebu-Bohol Bridge.

But in his keynote address before the 200 businessmen coming from the different business chambers all over the region with the bulk from Cebu in yesterday's Regional Economic Managers' Briefing and Dialogue at the Marriott Hotel in Cebu City, Pres. Aquino stressed the need for public-private partnership (PPP) which is essential to meet mutual objectives and goals that will benefit the country.

Pres. Aquino said that for Cebu, one of the PPP projects listed by his economic team is the redevelopment and upgrading of the Mactan International Airport.

Aquino said Cebu will also stand to benefit in the liberalization of the air transport which he is seriously considering which will make it easier for people to come to Cebu and to other parts in the country.

The President continued that another identified PPP project is the establishment of a cold chain system from Mindanao to Cebu to Manila, among other routes.

"With these, we can hope for significant increases on the number of tourist arrivals which will in turn provide the climate for more successful entrepreneurs to thrive," Aquino pointed out.

With the help of the private sector "we hope to see these projects into reality," according to the President.

The priority issues of the local business sector were submitted to the President after the various presentations of the administration's economic managers. Topics of the presentations were on the Overview of the Philippine Economic Agenda by the National Economic and Development Authority (NEDA) Sec. Cayetano Paderanga, Jr.; Fiscal Position by Finance Sec. Cesar Purisima; Monetary, External and Banking Sector: Outlook and Prospects by Bangko Sentral ng Pilipinas Gov. Amando Tetangco Jr.; Trade and Investment Opportunities by Trade Sec. Gregory Domingo; and Briefing on the Energy Program by Energy Sec. Rene Almendras.

After the presentations were the remarks from the industry leaders namely Consul Samuel Chioson - President of the Cebu Chamber of Commerce and Industry, Jay Aldeguer - Chairman of the Philippine Retailers Association - Cebu Chapter, Dr. Bonifacio Belen ? Senior Advisor, Cebu Educational Development Foundation for IT, and Atty. Lucas Nunag ? Chairman of the Bohol Provincial Tourism Council.

Pres. Aquino's visit to Cebu yesterday was his first official trip to Cebu after being inaugurated as President of the Philippines last June 30. (PIA-Cebu/FCR) [top]

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