Cebu: target destination for Asean investors 

Efforts in the local industry to promote Cebu as the country’s leading destination in business and leisure ventures are paying off as some of the capitalists from Asean countries have expressed interest in investing here. This, of course, is highlighted with Cebu’s maintenance on investors as well as promoting available opportunities for them to invest in other industries and sectors. 

Mila Espina, tourism committee chairman of Cebu Chamber of Commerce and Industry, said that some of the investors from Southeast Asia like Thailand, Malaysia and Indonesia have appealed into putting up shopping malls, accommodations and other tourism-related developments in Cebu. This is derived after the Asean Tourism Investment Forum held in
Bali, Indonesia all the way back in September 19-23, 2007. 

Destined 

The Asean Tourism Investment Forum was highlighted with discussions and inquiries about each of the 12 countries’ tourism opportunities who have joined the event. Most of the representatives, who have inquired about the investment possibilities here in Cebu, were not that well-informed about Cebu and Espina provided information that
Cebu is indeed a destination in terms of potentials of the province. She also added that big ticket projects like five-star accommodations and hotels are some of
Cebu’s premiere markets. 

The investors, however, asked about the retirement facilities in
Cebu aside from the business-related establishments and accommodations. 

Cebu, on the other hand, is actually recognized by most Asean capitalists in terms of the retirement industry sector among the promising destinations in the globe, given the close proximity of airport to hotels, resorts, other accommodations and the metropolitan area. 

This is also proved when Tourism Secretary Joseph Durano said that a Korean firm is planning to invest in a wide area of 50-hectare integrated establishments in the northern part of
Cebu next year. The planned facility will feature a golf course along with the retirement village. 

Aside from Cebu’s tourism-related investments that can be accounted for the major developments in the city, Espina also said that the Asean investors are enthusiastic about the possibilities about the real estate investments in
Cebu. Among those that have been asked about is the South Road Properties (SRP), which has been in the works for a long time now.

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