CEBU“Radiating positivity, creating connectivity” BUSINESS Room 310-A, 3rd floor WDC Bldg. Osmeña Blvd., Cebu City WEEK You may visit Cebu Business Week Facebook page. October 26 - November 1, 2020 Volume 2, Series 58 www.cebubusinessweek.com 12 PAGES P15.00 CARBON PROJECT TO REVIVE CEBU Megawide plans to begin redevelopment in early 2021 MEGAWIDE Construc- on March 9, 2020. By: ELIAS O. BAQUERO as a joint venture between City Check-in. tion Corporation will start “The Carbon Market and the Local Government Unit He said the proposed de- the redevelopment of the its adjoining districts are opment will certainly open (LGU) and Megawide, the velopment will also feature a Carbon Market area by the some of the most econom- more jobs and facilitate ease proposal seeks to redevelop waterfront plaza, a 24/7 mar- first quarter of 2021 once theically and culturally signif- of business for our vendors Carbon Market into a shop- ket, and the Sto. Niño Chapel Cebu City Government will icant locations in all Cebu. and suppliers,” Ferrer said. ping and cultural district that and Park. sign the Joint Venture Agree- With our proposal, we hope On the other hand, Tor- uplifts the quality of experi - Ferrer said that in phase ment (JVA). The project is to help jumpstart the recov- res said that this project will ence for all stakeholders like 1, they aim to deliver the new seen to help revive Cebu’s ery of Cebu’s economy after promote its vision of a First- vendors, business owners, and improved public market once vibrant economy. the pandemic by improving World Philippines across the transport operator and the and provide the ease of access Jason Robert Torres of the market’s existing infra- country not just in terms of public – and encourages the through an interim transport Megawide said that it took structure to provide a safer engineering and construc- growth of tourism and entre- terminal. Operations for the them more than one year to and more efficient experi- tion, but, more important- preneurship. market will remain with the prepare the redevelopment ence while bringing its his- ly, in terms of uplifting the Torres said there will be Market Operations Division project design based on the torical and cultural value to means of livelihood and in- a total of six blocks, devel- (MOD) of the Cebu City Gov- suggestion of stakeholders, the fore,” said Ferrer, also clusive for Cebuanos. oped in phases, with each ernment while Megawide will including vendors, city and Megawide’s managing direc- This redevelopment will block housing diverse retail, maintain the facility. barangay officials, business- tor for transport. also expand Megawide’s F&B leisure, and service fea- “The design and oper- men, and religious leaders. “Through the new mar- transit-oriented develop- tures. Among the proposal ations for the market were Megawide is the engi- ket facility and expanded at- ment portfolio and further highlights is the First-World planned with the intent to neering and infrastructure tractions, we aim to attract cement its commitment for Carbon Public Market, preserve the current vendor conglomerate behind the more investors to Cebu and the Province of Cebu. Wholesalers’ Hub, Lifestyle selection while improving now world-class Mactan-Ce- encourage the growth of the In that press conference, Village, Boqueria, and the overall market facility and bu International Airport local economy. Its redevel- Torres said that structured Premier Galleria and Airport systems,” Ferrer said. (MCIA). Ferrer said ensuring ease GMR-Megawide Cebu of access to Carbon is also a Airport Corporation (GM- priority, with the develop- CAC) President Louie Ferrer ment of an integrated trans- unveiled their plans for the port hub, that houses all redevelopment of Carbon modes of land transportation Market in Cebu City during a as well as a new ferry termi- press conference at Radisson nal that will allow passengers Blu Hotel last October 16. to take a water taxi through Ferrer said Megawide the channel to Mactan Is- submitted its unsolicited land and connect directly to proposal to the Cebu City MCIA. Government under Mayor On the other hand, Tor- Edgardo C. Labella on Octo- res said the architectural ber 11, 2019 and was award- HANGING RICE. Megawides proposed design of Block 1 and 2 which will feature an entrance designed in the design draws from imagery ed Original Proponent Status shape of a puso (hanging rice). unique to Cebu. 2 October 26 - November 1, 2020 Cebu Business Week LOCAL Veco charged for ‘overcharging’ A RADIOMAN who is of April 2020; P10,572.84 Community Quarantine also international boxing for May; P10,493.57 for (ECQ). The meter reader judge has filed a complaint July; P11,761.32 for August; cannot even explain about against the Visayan Electric P10,522.66 for September; the questionable and anom- Company (VECO) before and P9,057.01 for October. alous electric bills. the Energy Regulatory Com- Ligas added that he and “Niadto ko sa VECO mission (ERC) because of his family expected a re- apan taphaw ug wala ko rampant overcharging and duced VECO billing because matagbaw sa ilang pagpas- violation of Section 41 or they did not anymore use a abot kay kini gubot pa sa lu- Republic Act (RA) 9136 and flat iron starting in the last kot,” Ligas said. RA 11469 or the Bayanihan week of March 2020 to Au- In his prayer, Ligas To Heal as One Act. gust 24, 2020. urged ERC to order VECO Edward Ligas said in his He said the billing is to refund to him and to all complaint that in four years, served every month and he VECO consumers who suf- his average monthly bill- paid VECO every month. His fered the same fate of paying ing is between P3,400 and last payment was last Octo- to VECO the overcharges. P3.500. However, Ligas said ber 1, 2020. Ligas also prayed to ERC he was surprised and con- To top it all, Ligas said to order VECO that starting fused when the VECO bill- the VECO meter reader was October 2020, the power ing skyrocketed during the even surprised when he in- distribution utility should months of lockdown. quired from him about the not cut the power supply Ligas received the fol- electric bills with overcharg- to all consumers until their lowing VECO billings: EDWARD LIGAS, RADIOMAN WHO IS ALSO INTERNATIONAL BOX- es when during this period, complaints will be resolved. P10,505.05 for the month ING JUDGE. Cebu was under Enhanced CBW DTI’s buy local program gets backing at Capitol CEBU Provincial Board es are grasping at straws to nesses in areas under a more er from huge losses. Member Glenn Soco has keep their businesses afloat. relaxed community quaran- “The same program filed a resolution strongly The pandemic had seriously tine like Cebu Province. promotes patriotism and supporting the Department impacted the economy like “Under this program, nationalism, both traits of Trade and Industry (DTI) tourism, food and beverage, everyone is encouraged to characterized by devotion in its “Go Local” program accommodations, retail, “shop local, eat local and and support for one’s coun- and called for its aggressive manpower and services, travel local” to help stim- try. The program’s tagline information dissemination and export. ulate demand and restart emphasizes that buying and and implementation. With the pandemic’s im- or bring back confidence going local is a “BUYani” Soco said that due to the pact on trade and industry, to the different domestic act, as it ultimately helps COVID-19 pandemic busi- helping the Micro, Small businesses and industries,” our own people and econo- nesses are forced to close and Medium Enterprises Soco said. my,” Soco said. and movement is regulated. (MSMEs) must be priori- This also aims to pa- “Buying and going lo- Everyone is encouraged to tized to save the economy. tronize domestic products cal support the country’s stay at home. In his opinion, the DTI and services. economy in more ways than He added that with came up with a timely and He said the objective one - it keeps the money in most of the country being fitting program called “Buy of this program was based the community, it creates subjected to community Local, Go Local” -- a nation- principally at helping and and multiples job opportu- quarantine, including thewide campaign during the assisting local industries, nities,” he added. ELIAS O. Province of Cebu, business- gradual reopening of busi- BOARD MEMBER GLENN SOCO especially MSMEs to recov- BAQUERO Pinoys more interested in politics than economics: Calooy BUSINESSMAN Rey E. In 2011, they gave the rupt, hence, considered high economy. If banks are liq- He said the fast circu- Calooy observed that Fili- Philippines a high grade. If risk. uid, BSP will instruct banks lation of money in a com- pinos are more interested this happened to a country, He added that the Phil- to lower the interest rates munity starts from workers in politics than economics the macroeconomic funda- ippine economy in 2011 had to encourage depositors because once they received though the latter is more mental is strong. a good fiscal and monetary or businessmen to borrow salaries, they immediately important to their life espe- He said that if translated management. money to expand their busi- buy daily needs. cially amid the pandemic. to a family whose economic Fiscal management is nesses. Calooy also said that Politics deals with words situation is strong because the result of leadership and “Once their business- while inflation is good as it while the economy deals the income increased. As a governance in implementing es will expand, it will cre- is an indication of a growing with numbers.