Cebu businesses expect to sustain growth 

Cebu, the nation’s fastest-growing region, is a vibrant province blending tradition and modernity, according to a report by Manila Bulletin.

The thriving hub attracts local entrepreneurs and international investors, transforming it into a powerhouse with economic dynamos Lapu-Lapu (13.2% growth in 2022), Mandaue (9%), and Cebu (8.4%) cities.

This dynamism is highlighted annually during Cebu Business Month (CBM), which brings together leaders, entrepreneurs, and stakeholders for high-impact events celebrating the province’s economic achievements and fostering innovation and collaboration. CBM’s Tech Summit explored AI and digital transformation, while the Entrepreneurial Summit connected local startups.

“Cebu Business Month celebrates our collective spirit of resilience and innovation,” said Cebu Chamber of Commerce and Industry (CCCI) President Jay Yuvallos. “It’s about paving the way for sustainable growth and prosperity in our region.”

CBM 2024 began with a “Good Design. Good Business. Summit” hosted by CCCI at SM Seaside City Cebu. The event discussed design’s impact on Cebu’s future development. “Design is not just about aesthetics; it’s about creating environments that foster business success and benefit communities,” said Regan Rex King, overall chairman of CBM 2024.

Visionary Plans for Cebu City

Architect Joseph Michael P. Espina, officer-in-charge of Cebu City’s Planning Development Office, presented a blueprint for the city’s growth. The plan includes holistic urban planning that preserves cultural heritage and natural beauty. Cebu Acting Mayor Raymond Alvin Garcia announced plans for a Creative District.

“Cebu City has always been a hub for innovation, creativity, and talent,” Garcia said. “With our rich culture and heritage and dynamic population, Cebu is the perfect place to invest in creative entertainment industries.”

Garcia said the city aims to attract investments, enhance infrastructure, and improve residents’ quality of life. “The possibilities of having a creative district in Cebu are endless,” he said. “We had a success story in the IT park, which is in Cebu now, employing about 150,000 to 200,000 people. We aim to replicate this success further.”

Grounded in Reality: Energy Security, Water Sustainability

Energy security, water sustainability, and strategic urban planning were key topics at the “Good Design. Good Business. Summit,” emphasizing the importance of design, strategy, and sustainability for Cebu’s growth.

Ronaldo Ramos, chief operating officer of AboitizPower Thermal Business Group’s Operated Assets, discussed challenges to Cebu’s energy security, including the Visayas region’s thin energy reserves and Cebu’s high demand. He advocated for a balanced approach integrating renewable energy sources with baseload energy.

AboitizPower has two major energy projects in the pipeline: the 173-megawatt peak Calatrava Solar in Negros Occidental and the 150-megawatt Unit 3 brownfield project of the existing Therma Visayas, Inc. plant in Toledo City, Cebu.

“In the context of Cebu, where there is a call for additional capacity to be available in the next 3-4 years, we looked at solar, gas, and coal,” Ramos said. “The TVI Unit 3 emerged as AboitizPower’s most viable contribution to provide reliable, cost-efficient, and accessible baseload power supply to the Visayas.”

Garcia echoed the need for investments in power generation. “We can, of course, invite investments coming from the private sector, especially the power generation companies,” he said. “Maybe we just have to let them expand their capacity so that they can really supply Cebu.”

Ramos emphasized collaboration between the public and private sectors to achieve a sustainable energy landscape. He also highlighted AboitizPower’s commitment to integrating renewable energy sources and innovative technologies to drive urban sustainability and resilience.

Atty. Jes Anthony N. Garcia, senior vice president for infrastructure at Vivant Corporation, underscored the importance of water sustainability for Cebu’s development. “As we drive Cebu forward, it is crucial to address one of the most pressing yet overlooked issues of our time, and that is waste water sustainability,” he said.

Vivant Corporation is promoting sustainable water management practices to ensure the resilience of Cebu City’s water resources.