AS it continues to receive inquiries from local and foreign potential investors, the Department of Trade and Industry (DTI) 7 is optimistic that housing, accommodation (hotels and resorts), retirement, food and business process outsourcing (BPO) sectors will continue to thrive in the region in 2009 amid the global financial crisis.
Minerva Yap, DTI-National Economic Research and Business Assistance Center (Nerbac) 7 manager, said that there are even investors with businesses based in other countries like China that have expressed interests to either move their enterprises to Cebu or other parts in the region, or invest in promising sectors here.
She cited the positive outlook of CB Richard Ellis (CBRE) Philippines, an international commercial real estate services firm, which is opening a full service office in Cebu
that will serve the Visayas and Mindanao.
Other sectors that DTI identified to have the potential to grow in 2009 include health and wellness, logistics, education and entertainment.
Apart from cheap labor, she observed that the Filipinos’ English language speaking and comprehension skills have continued to attract foreign investments.
Promo programs
She said the “intense” promotional programs by the Department of Tourism and other stakeholders have perked up investor interests in putting up accommodation facilities in the region to cater to increasing tourists arrivals.
She disclosed that the DTI has often received inquiries by investors from the United States, Canada, Korea, United Kingdom and Australia about putting up BPO operations in Cebu and in the rest of the region. She said that these inquiries indicate that Cebu and the rest of Central Visayas are not heavily affected by the global financial turmoil that threatens several developed economies.
She said these queries, some of which were followed up by visits to the DTI office, manifest strong interest in pursuing projects in the region.
But Yap admitted that, in the case of the BPO industry, the government faces the challenge of having enough labor to supply companies.
At present, there are 25 call centers and 36 non-voice BPO companies in Cebu that employ a total of about 50,000 people.
Yap said that improving and promoting the image of Cebu, including its peace and order situation, will also boost positive relationships with investors.For comments, rejoinders you want to share or inquire, or learn more about Cebu Real Estate Industry, Call..
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