MERGED: Metro Cebu Masterplan and Development / Cebu's Future

[wAtSeR]

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yah.. lazy2x...

[grabehbebe]

GMA: Cebu should be ecozone

CEBU should be converted into an economic zone so enterprises there can enjoy tax breaks and special incentives that would boost the province as a major trade and investment hub in the region, President Gloria Macapagal Arroyo urged businessmen during her visit Wednesday.

Francis Monera, president of the Cebu Chamber of Commerce and Industry, said the President asked their group to formally ask the government to convert the province into an economic zone.

“She believed that whatever loss the country will have in terms of taxation can be offset by more vigorous development and economic activities in Cebu,� Monera quoted the President as saying when she inducted the new set of CCCI officers at the Marriott Hotel recently.

Firms located in ecozones have the option to pay a special 5 percent tax on gross income instead of national and local taxes. Ecozone locators, though, are still required to pay real estate taxes.

If Mrs. Arroyo’s wish would push through, Cebu would be the first province in the country to be declared a special economic zone.

“Cebu could be a good test-case because it is strategically located,� Monera added.
At present Cebu has four smaller ecozones: the Mactan Export Processing Zones 1 and 2, the West Cebu Industrial Park Zone in Balamban town, and the Asiatown IT Park in Cebu City

Any application for economic zone status has to be endorsed by the Philippine Economic Zone Authority to President Arroyo for her approval.

Monera said projects in information communication technology and tourism remain the two main engines for Cebu’s economic growth.

“The President recognizes the need to create an incentive-oriented environment for value-chain players specifically in the ICT and tourism industry,� he added.

Monera said President Arroyo also suggested that the CCCI touch base with local government units to help craft the incentives that can be granted to both local and foreign businessmen once the province is declared an ecozone.

“The President anticipated that there could be possible losses in taxation in the local level. She said the LGUs have to agree to give the incentives,� he said.

The CCCI, which began as an association of traders way back in 1913, has 722 member-companies whose headquarters are based in Cebu and have satellite offices in other parts of Central Visayas.


By Joyce Pangco Pañares
http://www.manilastandardtoday.com/?...s01_may26_2006

[ComputerTech]

Wonderful if this concept becomes reality hopefully the gas price would be 100/liter hehe pambayad sa otang kay of course with our attitude nabuhi ra baya ta sa otang though dili tanan. Maoy paga ingnon na ang panty rajud sa atong asawa ani maoy pirming ubos, the rest saka tanan....peace!

[koto]

nice

[eelssej_]

i love the way our president supports cebu projects like these...

[jootz]

Â* hopefully, the plan for the ecozone will push through. i like it a lot!

[MADAGASCAR]

mura na tinuod na ang uban.

[sexy_summer]

madayun gyud ni basta walay corruption

[peg]

nice .. basta positiv lang... dayun jud na! :mrgreen:

bahala nalang naay corrupt gamay oi basta naay agi ug successful... kaysa wala.

gamaya lang sad oi, ayaw lng sad dakoa... maikog intawn sa mga pipol, wawarts ra ba na sa ppl. mas mau gani kanang walay kikbak.

[eelssej_]

thanks guys for your positivie reaction... i know, these projects will be realized with supportive individuals like you... lets just not make these things a rush...

go cebu!!!