Archive for the ‘Why invest in Cebu?’ Category

Asean investors eye Cebu

November 1, 2007


EFFORTS of local tourism stakeholders in marketing Cebu as a business and leisure destination have started to pay off as capitalists from other Asean countries are showing interest in investing here. Cebu Chamber of Commerce and Industry tourism committee chair Mila Espina said investors from Indonesia, Malaysia and Thailand have expressed interest in putting up hotels, shopping malls and other tourism-related projects in Cebu during an investment forum last September.

Espina presented various investment opportunities in Cebu’s tourism industry during the Asean Tourism Investment Forum held in Bali, Indonesia last Sept. 19 to 23.

Perfect venue

“There were representatives from 12 countries in the Asean (Association of Southeast Asian Nations) who joined the event, and most of them were investors in tourism.

They wanted to find out more about the investment prospects in Cebu’s tourism sector,” said Espina, who was the lone representative from Cebu in the investment forum.

Since most of the attendees “were not well informed about Cebu,” she said it was the perfect venue to market the tourism potentials of the province. She added that she also presented opportunities for big ticket projects, such as five-star accommodations, in the province.

In an interview, Espina said tourism investors during the investment forum had inquired about the availability of retirement facilities in Cebu, apart from hotel and room accommodations.

“Every time Cebu is mentioned, questions and inquiries about retirement facilities were always on the forefront,” she said.

She said Cebu has been recognized by Asean capitalists in the retirement industry sector as among favorable destinations in the world, given the proximity of the airport to nearby hotels and resorts, and the metropolitan area.

Tourism Secretary Joseph “Ace” Durano earlier said a Korean firm is planning to invest in a 50-hectare integrated facility in the northern part of the province next year.

The facility will include a retirement village and a golf course.

Apart from tourism-related investments, Espina said Asean investors were also keen about the prospects of real estate investments in Cebu.

“There were also questions about the SRP (South Road Properties),” she added

Source – Sunstar Cebu