Ready for business! Radaza welcomes multibillion-peso investments in Lapu-Lapu City
Everyone in Lapu-Lapu City, most especially those in the grassroots level, will continue to enjoy the effects of the city’s economic growth as a result of the multi-billion-peso investments that have been poured into the island metropolis.
Lapu-Lapu City Mayor Paz Radaza highlighted this in her State of the City Address on Wednesday at the Hoops Dome here.
“As a result of our continuous efforts to provide a business-friendly environment, we have welcomed multi-billion investments from giant investors this year,” Radaza reported to the Oponganons, native name for Lapu-Lapu residents.
“These developments will greatly benefit our people as these will translate to thousands of job opportunities for the Oponganons.”
This year, Megaworld Corporation and JPark Island & Waterpark Cebu expanded their businesses and properties, revealed Radaza.
Also just this July, Udenna Development Corporation broke ground for The Emerald, a world-class state-of-the-art resort and casino.
“This premier 12.5-hectare Lapu-Lapu Leisure Mactan by Udenna in Barangay Punta Engaño (will be) bringing in billions of investments. Soon, we will be the home for the first-ever integrated resort casino outside Luzon,” Radaza reported.
The ongoing construction of the multi-billion-peso Sheraton Cebu Mactan Resort, which houses over 400 hotel rooms and condominium units, will soon be opened.
Radaza also announced that the Rockwell group and Taft Properties have showed interest to invest in Lapu-Lapu City, bringing in more billions of pesos worth of investments.
“Those who put in their trust and confidence that their business will prosper and grow here in our city have indeed made the right choice,” Radaza said.
In the coming years, Radaza said they are expecting the arrival of a huge number of tourists as the expansion and modernization of the Mactan-Cebu International Airport near completion.
Radaza also reported that in a span of five years, the revenue collection of the city grew by 53%. As a result, the city was awarded by the Bureau of Local Government Finance for exceeding its business tax collection target for Calendar Year 2016.
“The sharp rise is a result of our pursuit for good governance that business investors are trusting our administration and that they are paying their taxes well to the City,” Radaza said. “In fact, just recently, we awarded the Top 25 Taxpayers in our city who have faithfully paid their tax obligations.”
“I am grateful that we are able to maintain our good relationship with the business sector. That way, we will attract more investors to our city,” she added.
The lady mayor also told her constituents that she heard their concerns and complaints, especially about the worsening traffic situation and dilapidated roadways, and she vowed to address these problems.
“I’ve heard your cries. I feel your desperation. Like you, I also want these problems to be resolved,” Radaza told the Oponganons.
Mayor Radaza also promised to look into the delay of the City Hospital’s construction and likewise address the problems on uncollected garbage. (PNA)