Northern Cebu could become a new destination for industries and businesses under a proposed economic zone that Vice Gov. Glenn Anthony Soco wants developed through a comprehensive plan for investment, infrastructure and job creation.
Soco is pushing for coordinated planning among government agencies and other stakeholders to establish the proposed North Cebu Economic Zone (NCEZ), which aims to expand economic activity beyond the province’s existing business centers.
The initiative seeks to attract investments that could generate employment closer to northern Cebu communities while opening opportunities for local businesses to participate in the growth of new industries.
“We need to create new growth centers where investments can come in, industries can expand, and more Cebuanos can find quality jobs closer to home,” Soco said.
The proposed zone could accommodate manufacturing, logistics, information technology and business process management (IT-BPM), depending on the area’s suitability and the requirements of prospective investors.
Local entrepreneurs, particularly micro, small and medium enterprises (MSMEs), could also benefit by supplying goods and services to companies that establish operations in the area. This could help businesses in host communities reach more customers and become part of larger corporate supply chains.
Soco said the proposal needs a comprehensive master plan to identify suitable sites, determine priority industries and establish the infrastructure and utilities required to support business operations.
The plan would also need to consider telecommunications, access to essential services and efficient government transactions, which can influence investors’ decisions on where to establish operations.
The province could explore fiscal and non-fiscal incentives available through the Philippine Economic Zone Authority (PEZA), subject to applicable laws, eligibility requirements and approval processes.
Soco stressed that developing an economic zone involves more than identifying a location. Planners must also consider environmental protection, community concerns, workforce readiness and the ability of local governments to support new economic activities.
He said North Cebu’s workforce, talent, natural resources and existing industries could help attract investors if these advantages were supported by a coordinated development strategy.
“What we need is to build the right platform for investment and opportunity,” he said.
The proposed economic zone is envisioned to widen access to jobs and business opportunities in northern Cebu, although its development would depend on further planning and coordination among the stakeholders involved.
Photo courtesy of Glenn Soco/Facebook
Comments