The Philippine Board of Investments (BOI) has forged a partnership with Lapu-Lapu City to attract more investments and business events by streamlining regulations and improving investor services. The city government announced that the agreement is expected to shorten processing times, simplify permitting, and strengthen policy support, which are seen as key moves to boost investor confidence and accelerate capital inflows into one of Cebu's primary economic and tourism hubs.
First-of-its-Kind Agreement in Cebu
The memorandum of agreement, the first of its kind in Cebu, will focus on enhancing the city's investment code through clearer rules, more competitive incentives, and long-term development strategies. These reforms aim to make it easier for companies to set up and expand operations while improving the overall ease of doing business.
Mayor's Vision for Economic Growth
Mayor Ma. Cynthia "Cindi" King-Chan stated that the partnership is expected to spur economic activity and open more opportunities for local enterprises, particularly as the city positions itself as a venue for conferences, business events, and tourism. The initiative builds on Cebu's growing role as a host for international engagements, including Asean-related activities, which are driving demand for hospitality, transport, and related services.
Strategic Location and Accessibility
Lapu-Lapu City's accessibility, anchored by the Mactan-Cebu International Airport, is also expected to support increased investor and tourist arrivals, reinforcing its appeal as a gateway for trade and commerce in the Visayas region.
Business Community Support
Business groups, including Aboitiz InfraCapital, have expressed support for the initiative, noting that improved regulatory systems and investor support could help attract new capital, encourage business expansion, and drive modernization among local firms. Officials said the partnership is expected to translate into higher investments, job creation, and broader economic activity, strengthening Lapu-Lapu City's position as an investment-ready destination in the region.
