Cebu Chamber mulls investment promotions revival

The Cebu Chamber of Commerce and Industry (CCCI) is advocating for the revival of the Cebu Investment and Promotions Center, originally established under former Mayor Tomas Osmeña.

In a statement, CCCI president Jay Yuvallos said that they requested P25 million from the Cebu City government to support the “Invest in Cebu, Prosper in Paradise” business and investment branding initiative.

These funds would also support other activities under the second phase of the Cebu Investments Development Concierge Center (CIDCC).

Yuvallos urged the Cebu City Council to create an ordinance that would institutionalize the CIDCC and Cebu’s investment branding, ensuring its continued operation regardless of changes in leadership.

He clarified that the proposed P25-million budget would cover activities related to the CIDCC’s five core areas: government structure, concierge center, intelligence research, supply chain ecosystem development, and marketing.

“We want to do this right,” Yuvallos said. “We want a dedicated office. We’ve already laid the groundwork for how an investment office should function.”