1 month ago
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CEBU CITY — Mayor Raymond Alvin Garcia outlined an ambitious vision for Cebu City's sustained economic leadership during his address to business leaders, economists and key stakeholders.
The event, hosted by the Cebu City Chamber of Commerce and Industry's (CCCI), of which The Manila Times is a member, took place during the Philippine Economic Briefing: Navigating 2025 on Friday.
The mayor detailed strategies aimed at ensuring Cebu City's continued growth, emphasizing collaboration with stakeholders to maintain the city's competitive edge as a regional economic powerhouse.
Positioning Cebu City as a vital hub for commerce and trade, he underscored its prime location in the Visayas, which offers seamless access to both domestic and international markets. This, he argued, cements the city's role as a gateway to economic opportunities and innovation in the region.
He also emphasized the city's reputation for resilience, noting that despite global uncertainties, Cebu has consistently adapted and thrived.
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"Cebu's economy has shown unparalleled adaptability and strength, contributing significantly to our nation's progress. Cebu is also home to some of the country's top-performing schools, producing a highly skilled and competent workforce," the mayor said.
Garcia credited Cebu's educational institutions with producing a workforce that attracts investors from various industries.
He highlighted the consistent performance of schools such as the University of San Carlos, Cebu Institute of Technology-University, and Cebu Doctors' University in board and licensure examinations.
The mayor said businesses are drawn to Cebu not just for its infrastructure but for its pool of talent.
He explained that these institutions play a crucial role in maintaining Cebu's status as a preferred destination for investments in fields like IT and business process outsourcing (BPO), manufacturing, and tourism.
Cebu's economic milestone of surpassing the trillion-peso GDP mark in 2023 stood out as a testament to the region's economic strength. Cebu City contributed significantly to this achievement, boasting a growth rate of 8.3 percent.
Garcia pointed to the city's diverse economy, which includes sectors such as real estate, agriculture, and tourism, as key drivers of this success.
He acknowledged that Cebu's steady growth even during the pandemic reflects its adaptability and strong industrial base. This resilience, he said, is a clear indication of the city's critical role in the national economy.
Garcia highlighted his administration's efforts to foster a business-friendly environment. Initiatives like the extension of business permit validity to two years and tax amnesties for delinquent taxpayers were designed to ease the financial burden on businesses recovering from the pandemic.
The mayor also pointed to the revival of the Carbon Market redevelopment and improved relations with the Metropolitan Cebu Water District as examples of how the city is addressing infrastructure and utility challenges.
He described these projects as steps toward modernizing Cebu City while preserving its cultural heritage.
Additionally, the return of the Sinulog Festival to downtown Cebu City honored local traditions and stimulated the local economy.
The event generated millions in revenue for micro, small, and medium enterprises, showcasing the administration's focus on inclusive growth.
At the conclusion of his address, Garcia appealed to the audience for continued collaboration between the private sector and the local government.
He said Cebu City's economic achievements were a result of joint efforts and underscored the need for sustained trust and cooperation.
He expressed his desire to lead Cebu City into a new era of action-driven leadership, one that values diplomacy, accountability, and results.
