Local Investors Eye SRP Too - CIPC (April 2006)
Aside from foreign locators, local investors are also highly interested in putting up business at the South Reclamation Project (SRP), an official of the Cebu Investments Promotion Center (CIPC) said....
“There are many (local) investors who want to put up businesses like gasoline station, restaurants and stores. The interest is there,” CIPC managing director Joel Mari Yu said in an interview.
On hold
However, he said these plans are put on hold for the moment because SRP’s gives priority to locators that require an area of at least one hectare.
CIPC is the marketing arm of the SRP.
He said admissible industries for SRP’s industrial zone, include light industries, such as engineering and precision assemblies for optical equipment, automobile parts, jewelry and fashion accessories, garments and furniture, and food and non-food manufacturing, among others.
Hotels, shopping centers, call centers, among others are allowed for SRP’s business, service or commercial zone while retirement villages, theme parks and condominiums will complement the tourism zone, he said.
“Low-cost housing and heavy industries like power plants, steel plants and cement plants are considered not admissible,” he added.
SRP’s pre-approved locators are Fil-Rich Holdings Corp., Bigfoot Group of Companies, Cardiovascular Hospitals of America, JY Construction, developer Richard King, RDAK, Yoshio Home Decorations Inc., Toyota, Hardware Consolidated, Cebu Holdings Inc., Filinvest and a Japanese group that will put up a Japanese retirement complex. (ALC)