CCCI to push ahead with proposal to turn Cebu Province into ecozone

Tuesday, November 1, 2011By Katlene O. Cacho

THE Cebu Chamber of Commerce and Industry (CCCI) will continue pushing its proposal to convert the entire Cebu Province into an economic zone, officials said.

“The proposal is still under study and evaluation,” said CCCI presidaent Samuel Chioson in a recent interview.

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Former CCCI president Francis Monera said the conversion of Cebu Province into an ecozone will create the right environment for business.

“We are looking at improving the business environment via an economic zone. What we are eyeing is similar to the eco-zones that have made the country attractive to investors,” Monera said.

Monera said firms located in ecozones enjoy income tax holidays and other incentives.
He cited as an example Hainan, a province in China that became successful after it was declared an ecozone. Hainan is now China’s largest economic zone.

“Why can’t we do the same? Hainan Province moved up fast because they opened the doors to foreign investors via an economic zone,” Monera said.

House Bill No. 1319 or the Cebu Economic Development Zone was filed in the House of Representatives three years ago. The bill was supported by congressmen and local business groups but was not tackled in the Senate due to preparations for the May 2010 elections.

Published in the Sun.Star Cebu newspaper on November 02, 2011.