Cebu, Singapore enter deal to scout for infra investments abroad

CEBU CITY – The provincial government of Cebu on Wednesday entered into a partnership with a Singapore-based firm that would lobby for more foreign investments for the province's infrastructure development.

Governor Gwendolyn Garcia signed on behalf of Cebu province a memorandum of understanding (MOU) with Infrastructure Asia (Infra Asia), represented by its executive director Lavan Thiru, agreeing to cooperate in developing and implementing sustainable infrastructure projects.

The areas of development covered under the agreement are water supply, waste management, renewable energy, and transportation, Garcia said.

"The future looks bright indeed now that we have an ally in looking for more interested investors who are willing to come over, partner with the Cebu Provincial Government, and truly be one with us in pushing this island province into even greater heights of progress and development," Garcia said in her message after the MOU signing.

The governor said that the scope of the collaboration includes facilitating connections to investors from abroad, seeking market feedback on projects, and amplifying project visibility to gain attraction from international audience.

Singaporean Ambassador to the Philippines Constance See witnessed the signing ceremony at the Capitol Gallery.

"We do have good solutions in Singapore that can help address some of the concerns that you have raised with us; and we also have companies that are willing to put in the work and the investments to help Cebu develop tat strong infrastructure which will go a long way in helping Cebu meet its own economic and social goals," Thiru for his part said.

Infra Asia is a Singaporean company that facilitates the development, financing and implementation of infrastructure projects in Asia. (PNA)