There has been an increase in the pace of development in the south of Cebu. The latest news is by Primary Properties Corp. (PPC), a local property management company and developer, as the new owners of the Naga Valley Industrial Park (NAVA). With the change in management and increased investment, the 36-hectare industrial park is expected to generate 20,000-30,000 in the manufacturing industry.
William Christopher Liu, Jr., President and Chief Executive Officer (CEO) of PPC, said that the company actually took over the property more than a year ago and has invested a total of one billion pesos.
This brought about several improvements. “We rehabilitated the area, paved the road network, expanded the water system, and improved the power supply and drainage network,” cited Rezza Omega an officer of the company’s legal department. The company adds that they are working with the government to improve conditions of roads that lead to the economic zone, including adding roads.
The CEO also reports having received numerous inquiries about NAVA from foreign companies and already has some tenants. Most of these companies are Japanese and they hope to attract more, especially since the property is registered under Philippine Economic Zone Authority (PEZA). PEZA has been receiving praises for being “graft and corruption free” from foreign companies with offices within PEZA-accredited areas.
At the opening of NAVA last October 17, 2014, Director General of PEZA Lilia de Lima expressed her high hopes for the success of the newest economic zone because international interest has been redirected from China to the Philippines because of the quality of manpower and wage increases that have been moderate. The park success would certainly provide valuable help to people living near the area. Liu, Jr. said, “Everyday some residents here go to Mactan to work. Now, we bring the jobs to their place and drive more economic activity in the community.” Mactan is located on the north side of Cebu and would take several hours of travel to get there from Naga.
To know more about the opening of NAVA, read our article, “Launching of Naga Valley Industrial Park (NAVA).”
Photo credits: Pinoy Inspirations