Marcos Promises Major Investments to Boost Cebu’s Economy

CEBU CITY – President Ferdinand R. Marcos Jr. committed on Saturday to enhance investment in Lapu-Lapu City and the broader Cebu province, positioning them as central to the Philippines’ economic expansion. During a capsule-laying event for the new PHP1.5-billion Mactan Expo Center at Mactan Newton, President Marcos outlined his vision for the region’s development.

According to Philippines News Agency, the government intends to continue its support for Cebu’s growth, spotlighting the Mactan Expo Center as a critical part of a larger township project developed by Megaworld Corporation. The President highlighted the company’s innovative approach to urban development, emphasizing that the Mactan Newtown will boost the city’s role as a prime location for major business events on both a local and international scale. He acknowledged the significant role of the private sector in national development, asserting that it will be complemented by governmental initiatives.

President Marcos specifically noted the Department of Public Works and Highways (DPWH) plans to allocate about PHP2.9 billion in 2024 for infrastructure projects in Lapu-Lapu City. These projects include road widening efforts aimed at easing congestion on major routes such as the Mactan Circumferential Road and Mactan Airport Road, as well as the construction of the Cebu-Mactan 4th Bridge and the Lapu-Lapu City Coastal Road with the aid of Official Development Assistance.

The president also mentioned that the expo center is expected to attract further investments through the Meetings, Incentives, Conventions, and Exhibitions (MICE) sector and lauded the strategic location of the development near the Mactan-Cebu International Airport, local resorts, and hotels. He concluded his speech by connecting the day’s events with the historical commemoration of Lapulapu’s victory over Magellan, expressing pride in the nation’s heritage and its ongoing development efforts.