Business - Arkipelago News

PH raises $2.5B from dollar bonds

MANILA -- The Philippines secured $2.5 billion from the international debt market through a triple-tranche global bond offering aimed at meeting the country's budgetary requirements. The Bureau of the Treasury (BTr) announced on Thursday that the 5.5-year tranche has a yield of 4.375 percent and was priced at T+75 basis points (bps), 35 bps tighter than the initial price guidance, resulting in a 5 bps new issue concession. The new 10.5-year tranche was priced at T+95 bps, 30 bps tighter than the initial price forecast, with no new issue premium, landing at a yield of 4.750 percent. Meanwhile, the 25-year sustainability tranche was priced at 5.175 percent, 32.5 basis points tighter than the initial price forecast, and included a 2.5 basis point reduction. According to the BTr, the 5.5-year bond has the lowest spread of any comparable bond issued by the government since June 2021. Similarly, yields on the 10.5-year and 25-year bonds have reached their lowest levels since March 2022. “The Republic will partially allocate the 25-year Global Bond sale proceeds to assets under the Republic’s Sustainable Finance Framework,” the BTr stated. The transaction is expected to settle on September 5. The BTr noted that the government capitalized on benchmark rates that were beginning to moderate, as investor confidence in impending rate cuts was bolstered by dovish signals from the US Federal Reserve and lower inflation data. Proceeds from the 5.5-year and 10.5-year global bond sales will be utilized for general budget financing, while proceeds from the 25-year global bond sale will be used for refinancing programs and expenditures that align with the Republic's Sustainable Finance Framework, as well as general budget financing. Latest Transaction Attracted Robust Demand National Treasurer Sharon Almanza stated that the most recent transaction drew robust demand and strong momentum across markets, with interest from a diversified pool of high-quality global accounts. “The exceptionally tight pricing across all offerings enables the government to conserve on interest payments, thereby allowing more fiscal space to flow into transformative investments. Thus, the favorable outcome of the transaction further strengthens the Philippine Government's position to fulfill its commitments to fiscal consolidation and rapid economic growth,” Almanza said. Meanwhile, Finance Secretary Ralph Recto noted that the transaction is also a sign of confidence in the country's strong credit rating. "We are very pleased to see the overwhelming investor interest in our new USD 2.5 billion triple-tranche global bonds. In fact, compared to our regional peers, the Philippines’ issuance achieved among the best pricing in all of our tranches this year. This is a resounding vote of confidence in our country’s solid credit profile,” Recto said. “More importantly, this is a significant win for every Filipino as we are raising funds at very affordable costs to support programs and projects that will boost economic growth, create quality jobs, increase incomes, and reduce poverty,” Recto added. 📷 Bureau of the Treasury FB 2 weeks ago

DTI, BSP, and BDO Foundation launch financial education for small businesses

MANILA -- In an effort to empower Filipino micro-entrepreneurs through financial education, the Department of Trade and Industry (DTI), in collaboration with the Bangko Sentral ng Pilipinas (BSP) and the BDO Foundation, has launched a series of educational videos. The DTI is committed to upskilling and reskilling local micro, small, and medium enterprises (MSMEs). These organizations recognize the critical role of financial education and the entrepreneurial interventions of DTI Negosyo Centers in assisting MSMEs nationwide to help Filipinos scale and grow their businesses. “MSMEs are the drivers of our economy. We want our Filipino entrepreneurs to know that the DTI and DTI Negosyo Centers can offer them a variety of services in pursuing their passion, scaling their ventures, and sustaining what they’ve already started,” shared DTI Acting Secretary Ma. Cristina Roque. The DTI, BSP, and BDO Foundation have released three informative videos that address various business-related challenges, such as starting a business, obtaining the necessary permits and requirements, and acquiring the resources needed for business ventures with the assistance of DTI Negosyo Centers and financial institutions. This initiative is part of a larger government plan to support the micro, small, and medium-sized enterprise (MSME) sector, which often faces difficulties in managing its finances and expanding operations. Moreover, the videos will be made available on DTI platforms to maximize the accessibility of these learning materials. “With this partnership, we are optimistic that more and more micro-entrepreneurs can thrive through these challenging times by providing them with more knowledge and skills that are useful to their businesses,” said BDO Foundation President Mario Deriquito. “We will continue to help pave the way for accessible solutions that support micro-entrepreneurs maneuver new landscapes through financial education. BDO Foundation will also help expand the reach of the program by partnering with local government units and civil society groups that support micro-entrepreneurs,” he concluded. 📷 Department of Trade and Industry 3 weeks ago

Philippine economy shows strong Q2 growth

MANILA, Philippines — The Philippine economy demonstrated strong growth in the second quarter of 2024, as reported by the Philippine Statistics Authority on Thursday, August 8. Gross Domestic Product (GDP) surged by 6.3% from April to June 2024, marking a notable improvement from the 5.8% growth observed in the first quarter. The PSA report identified key contributors to this growth. Financial and insurance activities led the charge with an 8.2% increase, followed by industry at 7.7%, and services, which saw a 6.8% rise. Agriculture, forestry, and fishing experienced a 2.3% decline due to the impact of El Niño. GDP, a crucial economic indicator, measures the total value of all goods and services produced within a country. Socioeconomic Planning Secretary Arsenio Balisacan said the Philippines achieved one of the strongest performances in Asia with this latest GDP growth rate. "For East Asia’s economies that have released their second quarter 2024 GDP growth, we follow behind Vietnam at 6.9%, while leading Malaysia at 5.8%, Indonesia at 5.0%, and China at 4.7%," Balisacan stated. He attributed the GDP growth largely to heightened investments, particularly noting the double-digit expansion in construction. 📷 Jeanne Paredes/Unsplash 1 month ago

DTI signs MOU to launch Sari-Sari Store Advancement Program

MANILA -- The Department of Trade and Industry (DTI) has signed a historic Memorandum of Understanding (MOU) with private sector partners to launch the Sari-sari Store Advancement Program. The project aims to empower over a million variety store owners nationwide. This initiative, dubbed "Tindahan Mo e-Level Up Mo!", seeks to provide micro-retailers, known as sari-sari stores, with digital tools, knowledge, and sustainable practices, marking a significant step toward inclusive economic growth. “This program aims to empower over one million sari-sari store owners across the Philippines by equipping them with digital tools, knowledge, and sustainable practices,” said Trade and Industry Secretary Alfredo Pascual. He recognized sari-sari stores as a backbone of the economy, serving as economic hubs that power Filipino households. Program emphasizes digitalization and sustainability for micro-retailers The program involves Digital Transformation to enhance store operations, Financial Literacy and Access to Financing, Sustainability, and Consumer Protection and Regulatory Compliance. Secretary Pascual highlighted the necessity of incorporating digital technologies to help these micro-enterprises reduce costs, enhance productivity, and expand their market reach, ensuring their continued competitiveness in the digital economy. “Our goal is to see sari-sari stores not just survive but thrive. By registering and formalizing these businesses, we provide them with the necessary support and benefits to elevate their operations. This initiative is a collaborative effort, and through public-private partnerships, we can create a supportive ecosystem for these small but vital enterprises,” Pascual said. DTI Undersecretary Ed Sunico, who heads the program, stated that the DTI has expanded its network of specialists to ensure sari-sari store owners have access to world-class knowledge. “Bawat isang tindahan ay may isang kabuhayang Pilipino. In that spirit, sama-sama na nating i-level up ang bawat tindahang Pilipino,” USec Sunico said. Signatories from the private sector, including Unilever, Coca-Cola, Universal Robina Corporation, Smart Communications, Nestle, Hapinoy, Packworks, PASCO, and GCash, expressed their support for the program, emphasizing that the success of sari-sari stores is also their triumph. 📷 DTI Philippines FB 1 month ago

PCCI Metro Manila Business Conference 2024 set for August

The 2024 Metro Manila Business Conference (MMBC) organized by the Philippine Chamber of Commerce and Industry - National Capital Region (PCCI-NCR) will be held on August 22-24 at the Fiesta Pavilion, The Manila Hotel, bringing together top leaders in business, government and related entities. The event banners the theme, "Integrating Trade, Technology & Tourism for Sustainable Economic Transformation." The business group announced, “Join us as we delve into thought-provoking discussions, foster meaningful connections, locally as well as globally, and be engaged in shaping the future of business in Metro Manila. Don't miss this remarkable opportunity to gain invaluable insights, network with industry leaders, and be part of a transformative journey towards sustainable economic growth.” PCCI-NCR is currently headed by Dr. Hernando B. Delizo, Chairman and CEO of Clinica Manila, also referred to as Ambulatory Healthcare Institute, Inc., renowned as the pioneer in operating a fully-automated, comprehensive healthcare facility inside a shopping mall, and accredited by the prestigous Accreditation Canada International (ACI). Dr. Delizo will lead the chapters of PCCI in the NCR, which are expected to be joined by the officials of the region’s 17 local government units (LGUs) comprising 16 cities and one municipality. “This business event promises to be a convergence of brilliant minds and innovative ideas,” the PCCI-NCR underscored. Regarded as the Philippines’ biggest and most influential business group, the PCCI counts among its members more than 30,000 small, medium, and large enterprises, local chambers, and industry associations representing various sectors of business all over the country. PCCI is currently led by its President, Enunina “Nina” Mangio, owner of several large businesses including the SamgyeopMasarap chain of restaurants, Board Governor of the Employers Confederation of the Philippines (ECOP), a Board of Trustee for the Philippine Food Exporters Confederation (Philexport), Honorary Chair and Senior Adviser for Philippines-Korea Business Council, and Honorary Consul of the Republic of Liberia in West Africa. 📷 PCCI FB 3 months ago

MORE STORIES

PH and Qatar to sign investment pact

The Philippines and Qatar are eyeing to ratify this year an Investment Promotion and Protection Agreement (IPPA) which will ensure a business-friendly environment to facilitate greater trade, investment, and economic cooperation between the two countries. Department of Trade and Industry (DTI) Secretary Alfredo Pascual shared that he and Qatar Ministry of Commerce and Industry (MOCI) Sheikh Mohammed Bin Hamad Bin Qassim Al-Abdullah Al-nes have discussed the proposed agreement in a meeting held in Doha on the sidelines of the Qatar Economic Forum. He added that they also discussed the holding of the inaugural Philippines-Qatar Joint Economic, Commercial, and Technical Committee (JECTC) meeting in the first quarter of 2025, with a business forum and a business-to-business matching session on the sidelines of the meeting. The DTI and MOCI also agreed to pursue a memorandum of understanding (MOU) to strengthen cooperation on intellectual property rights (IPR) protection, as well as facilitate the exchange of information and best practices, training programs, and high-level dialogues on IP policy, Pascual elaborated. He noted that the Philippine delegation expressed concern about the proliferation of counterfeit Filipino brands in the Middle East, including Qatar, as he expressed optimisim that enhanced cooperation on IPR protection, including the proposed MOU, would address these concerns and create a more fair and secure environment. Pascual emphasized, "The Philippines is eager to further strengthen its economic partnership with Qatar through enhanced investment flows, increased cooperation on intellectual property rights, and the establishment of the Joint Economic, Commercial, and Technical Committee. We believe that this collaboration will not only benefit our two countries but also contribute to greater prosperity and stability in both the Gulf and Southeast Asia regions." During the forum, he discussed the Philippines' focus on infrastructure development, improved connectivity, and strategic policy reforms to ensure the country’s competitiveness. He stressed that the Maharlika Investment Fund, the Philippines' first sovereign wealth fund, provides support to the nation's Build Better More infrastructure program. The new Public-Private Partnership Code also ensures a clear and predictable policy environment for investors, he added. “Our competitive economic environment, coupled with our game-changing reforms, signals our readiness to attract foreign investments and support sustainable development,” Pascual emphasized. 📷 DTI FB Read more >> 3 months ago

Philippine SME Business Expo kicks off

The 14th Philippine Small and Medium Enterprises Business Expo (PHILSME), described as the biggest business-to-business (B2B) expo, conference, and networking platform in the country, has kicked off at the SMX Convention Center in Pasay City. About 10,000 individuals registered to attend the two-day (May 10-11) event, highlighted as a one-stop-shop of business solutions to help SMEs, start-ups, and entrepreneurs boost their business growth, link with other businesses, and foster new relationships, according to event organizer, Mediacom Solutions. Up to 180 companies and businesses engaged in finance, banking, advertising, healthcare, franchising, tourism, logistics, telecommunications, and several other services are participating in the event. Also attending are entrepreneurs, top-level executives, business owners and investors who will be seeking products to grow and scale their businesses. The PHILSME was initiated by Mediacom Solutions founder David Abrenilla, who had said, “SMEs comprise the largest sector of businesses in the Philippines. Being the backbone of the Philippine economy, we should help them succeed. This is the very reason why PHILSME has been concepted, to give SMEs the platform to grow and develop. With our SME enablers growing each edition offering the newest business solutions and opportunities, PHILSME will continue its mission to strengthen entrepreneurship and business here in the country." David's widow, Trixie Esguerra-Abrenilla, now leads the company as its Chief Executive Officer (CEO) and Managing Director. Esguerra-Abrenilla said, "Our commitment extends beyond the expo. We strive to continue supporting SMEs by helping them become aware of the latest business solutions, sharing exclusive offers they can take advantage of from various service providers, and providing them exclusive opportunities for the PHILSME Business Network." She shared that she intends to continue her husband’s legacy in supporting SMEs. 📷 PHILSME FB Read more >> 4 months ago

OFWs in UAE eye investing in property and business, according to survey

Majority of overseas Filipino workers (OFWs) that are based in the United Arab Emirates (UAE) want to invest in property and business, according to a survey conducted by integrated marketing and communications firm New Perspective Media (NPM). NPM noted that of the 3,200 UAE-based OFW respondents in the survey, 62 percent said they want to invest their salaries in property or real estate. In the same survey, 58 percent of the respondents stated that they would like to invest in business, preferring entrepreneurial activities. About 30 percent of the respondents said they want to invest in life insurance, and 27 percent answered that they want to invest in the equity market. Dr. Karen Remo, chief executive officer and founder of NPM, underscored, “The growth in the Philippines’ real estate market is backed by strong economic fundamentals and the country’s anticipated leadership role in ASEAN’s (Association of Southeast Asian Nations) economic expansion.” She added, “The long-term outlook remains positive, particularly with ongoing asset appreciation and attractive rental income.” Dr. Remo said that this appetite from OFWs to invest in property provides an opportunity for the Philippine property sector amid the growing income of Filipino expats in the UAE. Seven out of 10 Filipinos in the UAE said they have experienced a significant increase in their salary, with seventy-five percent saying that they earn at least AED5,001 (UAE Dirhams), equivalent to PHP78,000, per month. The NPM is spearheading the Philippine Property and Investment Exhibition (PPIE), the country’s largest international property and investment show, on May 11 to 12 at The Bristol Hotel, Deira, Dubai. Dr. Remo is a Dubai-based Filipina herself who has chosen to engage in entrepreneurial activity.Apart from forming and heading the NPM, she publishes The Filipino Times—the biggest free newspaper in the UAE and the largest digital platform for Filipinos in the region. 📷 OWWA FB Read more >> 4 months ago

PH to tap into billion-dollar global horticulture market

The Philippines is poised to play a role in the global horticulture industry and tap into its market worth billions of dollars, as the government through the Department of Agriculture (DA) gears to expansively help local growers beef up their production. At the launch of the May 3-5 “Pagsibol: Philippine Horticulture and Urban Agriculture Summit” organized by the DA and the Bureau of Plant Industry (BPI) in Makati City, DA Secretary Francisco Tiu Laurel, Jr. shared that he sees a promising future for the Philippines’ active participation in the said international industry. The Philippines can also supply plants for landscaping, the DA chief said, noting, “I was told that for landscaping, there is lack of supply versus demand so there’s still a good opportunity for us in that field.” He likewise cited as an advantage that many Filipinos have “green thumbs” or have the natural abilities to grow plants. Pagsibol, a three-day conference and exhibit, was organized to create a dynamic platform for knowledge exchange, innovation, and collective action among key stakeholders for the growth of the Philippine agriculture sector. Laurel highlighted the role of horticulture and urban agriculture in food security, economic growth and sustainability. “Horticulture, with its focus on cultivation of high-value crops and ornamentals, offers a pathway to diversity. Our agricultural landscape is limited as of the moment, and that with this, we will definitely diversify and meet the evolving demands of domestic and international markets," he said. “Urban agriculture, on the other hand, represents a modern adaptation of traditional practices. It presents a unique opportunity to reimagine the role of urban spaces in our agricultural system and harness the capacity of idle lands into centers of food and land production,” he added. Bureau of Plant and Industry Director Gerald Glenn Panganiban, for his part, disclosed that they are looking at ways on how to scale up production of high-value crops especially ornamental plants. “Globally, it's a billion-dollar industry. Based on experience, there's a huge potential because Filipinos love horticulture, we love taking care of plants,” Panganiban stated. He added, “We have a lot of high-value crops and ornamentals, and with the support of the government and with private sector collaboration, we can scale it up because we have the talent to do it and the technologies are here.” The government intends to invest in greenhouses and irrigation technologies for this initiative on horticulture, Panganiban said. 📷 BPI FB Read more >> 4 months ago

Leandro Leviste acquired 8.5 percent interest in ABS-CBN Corp.

4 months ago

PH eyes over 1 million “big spender” US tourists in 2024

The Philippines targets to attract over one million tourists from the United States this year, or about 15 percent more than in 2023, noting that US tourists have been the biggest spenders among all inbound visitors to the country. Based on data from the Department of Tourism (DOT), a total of 5,450,557 international visitors entered the country from January 1 to December 31, 2023, of which 5,003,475 are foreigners while the remaining 447,082 are overseas Filipinos. South Korea continued to be the Philippines’ top source of international visitors with 1,439,336; followed by the United States with 903,299; then Japan with 305,580; Australia with 266,551; China with 263,836; and then followed by Canada, Taiwan, the United Kingdom, Singapore, and Malaysia. The international visitors from the US generated PHP35 billion in revenues in 2023 -- the highest among the country’s top tourist markets, according to Philippine Tourism Director-Attache in New York Francisco Hilario Lardizabal. He emphasized, “This is 215 percent higher than the tourism receipts from South Korea, so this is how important the American market is. While the arrivals are fewer, the contribution is bigger.” Records from the DOT showed that visitor receipts in 2023 reached PHP482.54 billion, with the US as the top spending market, followed by Australia with PHP17.74 billion, South Korea with PHP16.41 billion, Canada with PHP15.85 billion, China with PHP12.24 billion, and Japan with PHP10.02 billion. Lardizabal revealed that based on their monitoring, the American tourists tend to spend more and stay longer in a destination in the Philippines. He added that majority or 55 percent of inbound travelers from the US are former Filipinos, whose main travel motivation is to visit friends and relatives in the Philippines. “Filipinos from the US go around the Philippines and stay longer in the Philippines, and they also spend a lot. Apart from the money they spend on travel, they sometimes also give out money to their relatives,” he noted. He shared that former Filipinos who visit the Philippines as tourists are being motivated by the desire to meet up and personally interact again with their friends and relatives in the Philippines, as well as see what changes happened in the country while they were already living in the US. “They go around and visit friends and relatives in many places,” he said. Meanwhile, mainstream American visitors looked for a more immersive dining experience. “They want to know the story about Filipino foods, how these are prepared, and they would even cook these foods themselves,” he remarked. Lardizabal expressed confidence that the Philippines will achieve 15 percent more of the 2023 US tourist arrival figure, noting that the DOT is doing a multi-pronged approach to entice the market by forging partnerships, conducting more trainings for travel agents, joining B2B (business-to-business) travel trade events, and organizing curated familiarization tours. He likewise shared that prior to the COVID-19 pandemic, most US travelers to the Philippines were baby boomers or those in the age bracket of 60 to 78 and Generation X or those aged 44 to 59. But now, he said, majority of US travelers that are showing interest in the Philippines are millennials, or those born between 1981 and 1996. “That should be our focus, how do we address the needs and preferences of the millennials,” he highlighted. The tourism official likewise said that the emerging travel trends in this millennials market are geared toward immersion or experiential travel, wellness tourism, workcation, premium travel, solo travel, and adventure and sports, among others. He mentioned as an example the market observation in the US itself, where there was a recorded uptick in the sales of sports and equipment for activities such as hiking, horseback riding, cycling and scuba diving. Lardizabal added that among the top destinations for American visitors to the Philippines are Boracay, Palawan, and Siargao. 📷 Department of Tourism FB Read more >> 4 months ago

“EDSA Greenways” to enhance commuter experience, improve transportation, create greener cities

The $140-million Epifanio Delos Santos Avenue (EDSA) Greenways Project is expected to enhance the experience for commuters in the National Capital Region (NCR), improve transportation, and transform cities into greener areas, the Department of Transportation (DoTr) underscored. The Asian Development Bank (ADB) is funding this project, which is composed of elevated pedestrian walkways in Balintawak and Cubao in Quezon City, Guadalupe in Makati City, and along Taft Avenue in Pasay City. It will connect pedestrians and commuters to mass transit stations to help promote the use of public transport. DOTr Assistant Secretary for Road Transport and Infrastructure James Andres Melad stressed that the project would also boost economic growth through better transportation system. “This harmonization is crucial for shaping a more sustainable future and creating greener cities that are safe, commuter and pedestrian-friendly, as well as accessible for all,” Melad said. The department shared that the first phase of the EDSA Greenways project involves building five kilometers of the covered elevated pedestrian walkways around the four mass transit stations - Balintawak, Cubao, Guadalupe and Taft, along EDSA. The DOTr noted that at present, existing pedestrian facilities on EDSA are poorly designed, uncomfortable, and unsafe. The project thus aims to make EDSA, a major artery in Metro Manila, more walkable. The DOTr declared that the Greenways project will be completed by 2027. According to the ADB, “Pedestrians on EDSA can soon expect safe, wide, well-lit, and disaster-resilient elevated walkways. The Asian Development Bank has approved the EDSA Greenways Project, which will help the government construct 5 kilometers of covered walkways that will be linked to mass transit stations in Balintawak, Cubao, Guadalupe, and Taft. The 5-meter-wide structures, equipped with elevators and monitoring systems, will be easily accessible for pedestrians, including the elderly, pregnant women, young children, and people with disabilities.” 📷 Asian Development Bank FB Read more >> 4 months ago

Over 179-M pieces of coins worth P648.9-M deposited through BSP’s coin machines

4 months ago

The Philippines seeks to revitalize trade with New Zealand

4 months ago

Cebu Business Month to shape province’s development roadmap

The upcoming Cebu Business Month (CBM 2024) in June will contribute significantly in shaping the province’s development thrust, according to the Cebu Chamber of Commerce and Industry (CCCI). Cebu Business Month is CCCI’s flagship project held annually every June, bringing together local, national, and global business leaders to witness the accumulated progress in the province and explore its continuously expanding potentials. The group has been conducting roadshows especially in Manila to forge connections with stakeholders from both private and public sectors. “The roadshow aims to promote collaboration and synergy in driving progress for Cebu through value-driven initiatives,” CCCI underscored. These roadshows are led by CCCI President Jay Yuvallos and CBM 2024 Overall Chairman, CCCI Vice President Regan Rex King. The other key participants of the roadshows include: CCCI VP for Business Development, Benny Que; CBM 2024 Vice Chairman Anton Perdices; Branding, Marketing & Communications Chairperson Lilu Aliño; Networking, Partnership, and Resource Generation Chairman Rodrigo Tañeda; Digital Transformation Chairman Anthony Noel;Innovation & Creativity Chairman Bryan Yap; and CCCI Business Mobilization Manager for Cebu Maribel Melgar. The group said that among the entities that have partnered for CBM 2024 are: Cebu Air, Inc. (Cebu Pacific), Philippine Airlines, Inc., Lalamove Phils., Eastern Communications, Anti-Red Tape Authority (ARTA), Rakuten Viber, Aboitiz Group, Megaworld Corp., Jobstreet by SEEK, Dito CME, and PLDT Enterprise. CCCI also promoted partnerships with government agencies to ensure alignment of programs and projects among government and private sector players. “Leveraging with government endeavors, CCCI ensures to align its plans and programs and advocates inclusive growth. Bolstering MSMEs (Micro-Small and Medium-Scale Enterprises), CCCI aims to reinforce Cebu as the prime investment destination,” the group emphasized. The Department of Tourism (DOT) is a major partner of CCCI for CBM 2024. The DOT noted that CBM celebrates the entrepreneurial spirit of Cebu and showcases the diverse and dynamic business community in the region, as it also offers a range of programs and activities that cater to different audiences, including business owners, entrepreneurs, investors, and the general public in the areas of Tourism, ICT- BPM/Technology, Entrepreneurship, and Creative Entertainment. Tourism Secretary Christina Garcia Frasco said, “The DOT welcomes CCCI’s proposals with optimism. CCCI can help develop Cebu by further promoting its English As A Second Language (ESL) and dive industries, and likewise develop the province as a wedding and MICE destination to target source markets.” CCCI stressed that they are open to assisting DOT to highlight the importance of creating a high-value business ecosystem that would benefit the local tourism industry. 📷 Cebu Chamber of Commerce and Industry FB Read more >> 4 months ago