15/08/2013
New 100-hectare industrial park to rise in Minglanilla
CEBU, Philippines - Cebu's shortage for economic zones has led the Municipality of Minglanilla to build a 100-hectare industrial park in partnership with Ming-Mori Development Corporation.
The project to be called "Minglanilla Reclamation & Industrial Park", is the first Public-Private-Partnership (PPP) of this type.
Ming-Mori Development Corporation Chairman Joe Soberano announced yesterday that the project is seen to be completed in less than five years, and will attract at least 50 Foreign Direct Investors (FDIs) that will largely engage in light industries.
According to Soberano the company will start off with an intensive promotional roadshow targeting the countries of Japan, Taiwan, South Korea, among others.
The group will also be tapping the expertise of the Cebu Investments and Promotions Center (CIPC) to jumpstart awareness of the availability of the investment site.
The five-phases reclamation industrial park project, is considered as a landmark development in Minglanilla, and is expected to generate thousands of jobs in the southern part of Cebu. This will be located at the coastal barangays of Tulay and Calajo-an.
Earlier, Cebu Chamber of Commerce and Industry (CCCI) president Lito Maderaso urged developers to embark into building more economic zones in Cebu to attract manufacturing FDIs.
βWe would rather encourage private developers that will create economic zones. Ours in Cebu are almost full,β said Maderaso.
βWe need manufacturing to aid our growth in BPO and tourism. We canβt continue to soar on βone legβ, manufacturing is the key to have a balance economic growth.β Maderaso added.
In a recent announcement, CIPC revealed that at least 500 Japanese firms have expressed interest in locating plants in the Philippines, including Cebu, 200 of which are into manufacturing.
CIPC managing director Joel Mari S. Yu said that Cebu is now gaining interest from manufacturing-based investments and that it has to direct its effort in re-introducing the attractiveness of Cebu in terms of manufacturing investments.
Although, most FDIs (foreign direct investments) in Cebu are in BPO (Business Process Outsourcing) or KPO (Knowledge Process Outsourcing), Yu said it has noted a strong interest from manufacturing companies abroad, specifically from Japan.
There are at least 107 people now employed in the manufacturing companies in Cebu, while the BPO and IT sector is employing close to 100 thousand.
On the other hand, Yu said if Cebu were to attract more manufacturing firms to expand here, more economic zones must be established.
Yu said that the existing economic zones that host mostly industrial companies, are almost full and that the province needs to expand the availability of economic zones, aside from building cyber zones.
The Philippine Economic Zone Authority (PEZA) is now relaxing its requirements to encourage private developers venture into this kind of project.
The availability of ecozone locations could invite more investors to open up their plants Cebu, considering the quality and the quantity of work-force here. β (FREEMAN)
