CIPO or Cebu Investment and Promotions Office of the Cebu provincial government said that some Chinese companies have conveyed an interest to invest in Cebu.
CIPO’s was created in October 2014 and its mandate is to “attract, promote and encourage domestic and foreign investments in the province of Cebu as well as develop a business environment that keeps and sustains said investments.”
Roy Soledad, CIPO Investment Officer said that the Chinese construction firms are most interested to fund energy, infrastructure and housing projects at good interest rates to local partners.
CIPO envisions to market Cebu City as the investment hub in Southern Philippines. Moreover, the (EIU) Economist Intelligence Unit report “China Going Global Investment Index 2017” ranked the Philippines 29th in terms of attractiveness to Chinese companies. Singapore topped the list this year beating the US.
According to the EIU, the Philippines is a magnet for Chinese investors in certain industries such as energy, consumer goods, and telecommunications. Apart from Chinese firms, CIPO has received inquiries from Japan, US, Switzerland, Malaysia, Indonesia, and Brunei.
Eleven companies hailing from different industries have also reached out to Soledad to expand in Cebu.