Cebu business community bats for sustained growth

The fastest growing region in the country today, Cebu is a vibrant province where tradition seamlessly blends with modernity. The thriving hub has attracted a diverse mix of local entrepreneurs and international investors, transforming Cebu into a powerhouse hosting economic dynamos Lapu-Lapu (13.2%economic growth rate 2022), Mandaue (9%) and Cebu (8.4%) cities. This dynamism is showcased annually during Cebu Business Month (CBM), bringing together leaders, entrepreneurs, and stakeholders in high-impact events celebrating the province’s economic achievements and acting as a catalyst for further innovation and collaboration.

At CBM’s Tech Summit event, delegates explored cutting-edge advancements in AI and digital transformation, highlighting fantastic capabilities, infinite possibilities and new business opportunities. Meanwhile, the Entrepreneurial Summit brought together local startups, sharing their innovations and networking to explore synergies. According to Cebu Chamber of Commerce and Industry (CCCI) President Jay Yuvallos: “Cebu Business Month celebrates our collective spirit of resilience and innovation. It’s about paving the way for sustainable growth and prosperity in our region.”

CBM 2024 kicked off with a call for innovation at the “Good Design. Good Business. Summit,” hosted by CCCI held recently at the SM Seaside City Cebu, discussing the significant impact of design and strategic planning on Cebu’s future development. Reflecting on the summit’s broader agenda, Regan Rex King, overall chairman of CBM 2024 remarked: “Design is not just about aesthetics; it’s about creating environments that foster business success and benefit communities,” 

Visionary Plans for Cebu City’s Future

Architect Joseph Michael P. Espina, Officer-in-Charge of Cebu City’s Planning Development Office, presented a visionary blueprint for Cebu City’s growth. The strategic plan for Cebu includes holistic urban planning that addresses the city’s evolving needs while preserving its cultural heritage and natural beauty. Reinforcing the city’s forward-thinking plans, Cebu Acting Mayor Raymond Alvin Garcia spoke of the establishment of a Creative District. 

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

Garcia notes that by cementing a conducive environment for art and innovation, Cebu City aims to attract investments, enhance infrastructure, and improve the quality of life for its residents.

“The possibilities of having a creative district in Cebu are endless.” said Garcia. “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

By all accounts, Cebu’s grand plans are also highly grounded in reality. Energy security, water sustainability, and strategic urban planning were main topics during the “Good Design. Good Business. Summit” underscoring the interconnectedness of design, strategy, and sustainability as critical components in Cebu’s growth plans.

Ronaldo Ramos, Chief Operating Officer of AboitizPower Thermal Business Group’s Operated Assets, spoke of the present challenges to Cebu’s energy security including the Visayas region’s very thin energy reserves to begin with, and the fact that Cebu represents more than half of the region’s demand.  Ramos highlighted the significance of energy security for Cebu’s sustainability, advocating for a balanced approach that integrates renewable energy sources with innovative baseload energy to ensure reliability. 

“AboitizPower has two major energy projects in the pipeline for Visayas. The 173 MWp Calatrava Solar in Negros Occidental and the 150 MW Unit 3 brownfield project of the existing Therma Visayas, Inc. plant in Toledo City, Cebu. Both are meant to be part of the solution, but the two have their own story, context, and roles to play,” said Ramos. 

“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.  The TVI Unit 3 emerged as AboitizPower’s most viable contribution to provide reliable, cost-efficient, and accessible baseload power supply to the Visayas.”

Ramos’ statement aligns with Cebu’s current economic growth momentum. As Cebu continues to develop, the need for dependable energy sources becomes increasingly crucial. Integrating renewable energy with baseload energy is essential to maintaining a stable and adequate energy supply that supports both current demands and future growth.

This perspective was echoed by Cebu’s Acting Mayor, Hon. Raymond Alvin Garcia: “We can, of course, invite investments coming from the private sector, especially the power generation companies. Maybe we just have to let them expand their capacity so that they can really supply Cebu.”

“As we embark in this journey towards a sustainable energy landscape, collaboration is paramount. In fact, it is the key to our success. It’s the synergy of the stakeholders, from generation to distribution, to the customers and also our government leaders that we will be able to fully unlock the potential of Cebu,” Ramos proudly points out.

He also emphasized AboitizPower’s commitment to integrating renewable energy sources and innovative technologies to drive urban sustainability and resilience and reintroduced the role of collaborative efforts between the public and private sectors in achieving these goals, coupled with initiatives advocating for policies that prioritize environmental stewardship and social inclusivity.

Meanwhile, Atty. Jes Anthony N. Garcia, SVP for Infrastructure at Vivant Corporation underlined the critical importance of water sustainability in promoting development in the entirety of Cebu, including the city, its neighboring cities, and the province. 

“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. It is often overlooked by many that together, with the benefit of consuming and using clean water, comes the responsibility of properly treating waste water so that the natural water cycle can continue in a sustainable manner for generations to come,” said Garcia. 

Garcia relayed the initiatives by Vivant Corporation to promote sustainable water management practices, ensuring the resilience of Cebu City’s water resources amidst growing urban demands and environmental challenges.

ADVT.