Press Release
March 9, 2007


Noting the current boom of both foreign directed and local investments in Cebu, Senate Majority Leader and independent senatorial candidate, Kiko Pangilinan yesterday recognized the strength and potential of the province to become the country's next economic frontier.

"Cebu's economy is transforming progressively," Kiko said, "Its local economy has moved up the value chain from trading to manufacturing. Now it's also booming in the service industry, especially with numerous BPO's transferring their regional hubs to Cebu."

Kiko stressed that the growth of the Business Process Outsourcing in Metro Cebu and its periphery was a result of the province's united front to pursue its share of the country's economic gains.

"The diligence of the Cebuanos to come together for the common purpose of raising the bar of excellence not only in their province, but for the entire country as well, should be emulated by other provinces," Kiko said.

"Now the challenge of Cebu is managing its growth while promoting human and social development," Kiko explained. "I'd like to see Cebu move towards to distributing the economic gains of its success. Cebu's seemingly effortless achievement of financial and economic stability is a good template for economic direction for any province," Kiko ended.

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