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PIA Press Release

Cebu chamber embarks on trade mission to South Africa

Cebu City (25 January) -- Unfazed by the economic uncertainty in the world market, Cebu's leading business group is embarking on a trade mission to Johannesburg, South Africa to discuss mutual trade and investments.

Cebu Chamber of Commerce and Industry (CCCI) is calling on its member companies, sectoral associations and affiliate chambers for expressions of interest to participate in the trade mission to Johannesburg.

The mission is aimed to establish linkages, expand business network with businessmen in South Africa and promote mutual investment opportunities that will benefit both countries.

Business delegates that will participate in the trade mission will have the opportunity to have a one-on-one business matching with the members from the counterpart chamber in South Africa.

Meetings with key government and business leaders, presentation of products and services, company visits and social activities also form part of the itinerary of the business group.

The CCCI meanwhile is busy preparing for the coming Cebu Business Month held every month of June, as it focuses on the potentials of the province where investors can put in their money aside from expanding business networks, trade and markets but also sharing on business practices with other business partners in the domestic scene and in the region.

Last year, the CCCI cashed on the twin potentials of tourism and ICT growth in Cebu which has borne fruit as Cebu is the top favored foreign tourist destination in the country today while business process outsourcing companies are now expanding its business interests in Cebu.

President Gloria Macapagal-Arroyo meanwhile, stressed before the Swiss Asian Chamber in a recent meeting at the Savoy Hotel in Zurich, Switzerland that the Philippines offers one of the best values for investments in Asia.

"Our workforce is well-educated, productive and English-speaking and we are cutting red tape to simplify the requirements for investment. In the midst of world uncertainties, we remain a competitive location for a wide range of manufacturing and high-end services.

Foreign investment in the country has grown more than five-fold from 2003 to 2007 as the President expressed confidence that the Philippines ' will continue to face brighter economic prospects ahead. (PIA-7/FCR) [top]

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