Cebu business encouraged on CV eco growth but not to rest

The Cebu Chamber of Commerce and Industry (CCCI) lauded on Sunday, 27 April 2025, the impressive economic performance of Central Visayas, calling it a welcome but not unexpected development.

In a statement, CCCI emphasized that while the growth is encouraging, the region must not rest on its laurels.

"We must continue to work hard and build on these gains to ensure sustained growth in the midst of global uncertainties," the chamber said.

The region, composed of Cebu and Bohol, logged 7.3 percent growth in 2024, sustaining its momentum from 2023. The Philippine Statistics Authority (PSA) estimated the region's economic output to have reached P1.28 trillion, up from P1.19 trillion in 2023.

The region's growth outpaced the national average of 5.3 percent.

"We have seen and identified the engine of growth areas," CCCI said, pointing to its LEAD A-MUST agenda, which champions key sectors such as logistics, education, agri-business, digitalization, and tourism.

Among the high-impact areas CCCI cited is the services sector, with the Academe-Industry Alliance now helping to bridge the gap between education and workforce readiness.

Creative industries and information technology-business process management also remain strong pillars, with targeted initiatives in talent development, skilling, and innovation.

In tourism, CCCI sees sustained potential for job generation, investments, and economic inclusion. Central Visayas is preparing to cater to niche markets including eco-tourism, adventure, medical and wellness travel, and MICE (meetings, incentives, conferences, and exhibitions).

The chamber noted that the MICE Alliance is now ready to promote the region on a national and international scale.

Being a logistics hub, the chamber stressed the need for investment in supply chain ecosystems, including ambient and cold chain infrastructure. The operationalization of the Visayas Container Terminal is seen as a strategic move that brings Cebu and Bohol closer to global export markets, especially for agriculture and fisheries products.

CCCI pointed to the importance of revitalizing micro, small, and medium enterprises, particularly in food, agri-marine, and labor-intensive manufacturing, by pushing for greater digitalization and innovation. The region is also poised to benefit from renewable energy projects, with enhanced infrastructure bolstering energy security and long-term economic resilience.

In agriculture, the chamber called for more diversification and sustainability, promoting high-value crops such as coconut, cacao, banana, mango, and corn, as well as aquaculture and eco-tourism-based rural development.

To attract and retain investors, CCCI underscored the need to create a stable and predictable business environment, offer incentives, improve infrastructure, and develop a skilled workforce.

"CCCI remains steadfast to its vision to be the engine of Cebu's business growth toward global competitiveness by creating a world-class community and people," said the chamber. It vowed to continue formulating strategic programs, exploring international markets, and promoting tech adoption among small businesses.