CEBU Business Leaders Rely on New Power Plant Facilities for Sustainable Growth

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CEBU,Power Plant,Growth

CEBU business leaders are counting on new power plant facilities to provide ample power supply and baseload reserves to sustain the province's rapid growth and development. The Mandaue Chamber of Commerce and Industry (MCCI) emphasizes the importance of energy in the country's post-pandemic economic recovery and preparation for increased investments and population growth. Cebu has shown significant growth potential in various industries, including shipbuilding, automotive manufacturing, and resource-based industries.

CEBU business leaders count on ample power supply and baseload reserves from new power plant facilities to help sustain the province’s rapid growth and development. In an interview, Mandaue Chamber of Commerce and Industry (MCCI) incoming president Mark Ynoc emphasized how vital energy is as the country’s economy bounces back post-pandemic, “especially in preparation for the anticipated arrival of investments and increase in population growth.” Data showed that Cebu posted a growth rate of 6.

9 percent in 2022 led by Metro Cebu and its highly urbanized cities of Lapu-Lapu (13.2 percent), Mandaue (9 percent), and Cebu City (8.4 percent). Pre-pandemic, the National Economic and Development Authority identified Cebu’s potential for new investments in heavy and extractive industries, including shipbuilding and allied industries, automotive and parts manufacturing, aerospace parts, resource-based industries, and fabricated metals. “When there is a pressing need for power, then we definitely need additional generation capacity and infrastructure,” Ynoc sai

 

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