Dr. Brian To, a global strategist and Wharton School fellow, said the e-motorcycle company’s chief executive officer had expressed interest in establishing a manufacturing facility in the province.
To withheld the identity of the company and its CEO, saying the executive would be among the speakers at the fourth Cebu Economic Forum on Sept. 8 and 9.
“The main point is that the CEO of this company is coming. I can’t take away his ‘lightning and thunder,’ as we say. He should be the one to make the announcement in his own way,” To said during a media briefing on Aug. 25.
If the investment pushes through, it will be the first electric motorcycle manufacturing plant in Cebu.
Economic forum
The province is bringing together private-sector leaders, financial institutions, local officials, and prospective domestic and foreign investors for the fourth Cebu Economic Forum. The first forum was held on Jan. 24, 2025.
The two-day event is designed to move beyond broad investment promotion toward action-oriented discussions. It builds on three earlier forums that sought to position the provincial government as a strategic partner of the business community.
"Cebu has never lacked opportunity. The challenge is to translate those opportunities into projects that investors can understand, evaluate and act on," Governor Pamela S. Baricuatro said.
"Cebu Economic Forum 4.0 is designed to bring government, business and finance into the same conversation -and move that conversation toward clear next steps,” she added.
Test site
To, the governor’s husband who serves as senior economic adviser and global strategist for the provincial government, said the company’s CEO would be among the forum speakers and would discuss opportunities for electric vehicle manufacturing in Cebu.
“They want Cebu to be a test site for EV motorcycles, which is very different from the typical EV automobile manufacturing model,” he said.
To said the company manufactures motorcycle parts, assembles motorcycles and produces batteries.
He said attracting manufacturing investments was part of the province’s strategy to create jobs and diversify Cebu’s economy beyond the services sector.
International participants
At least 300 participants from nine countries are expected to attend the forum, which is geared toward promoting investment opportunities in Cebu amid challenges such as declining foreign direct investment and sluggish economic growth.
“Despite the roadblocks—bureaucracy, fiscal policy, foreign investment regulations—we are moving forward to open the doors to foreign investors, in line with the governor’s directive. This is not only for the obvious sectors such as property and infrastructure, but also for manufacturing,” said To.
Among those who committed to join the forum were businessmen from Vietnam who had shown interest in investing in Cebu.
To said he received a call from a Vietnamese government representative asking about accommodation arrangements for delegates from Vietnamese companies interested in attending the forum.
“Vietnam’s foreign investment strategy is very progressive and they are performing very well. We want to capture part of that momentum,” said To.
The Singaporeans, he added, have also promised to attend the forum because they too want to invest in Cebu.
To said the province’s thrust is to attract new, foreign-led investments to help revitalize its economy.
He added that Cebu is well suited as a manufacturing base because Cebuanos are fast learners, hardworking, have a strong work ethic and speak English.
Rewards
To said the previous forums had generated at least P4 billion in investments, mainly in development and infrastructure.
The forums also led to a public-private partnership for the development of a township on a province-owned property, said Paulo Uy, Cebu Province investment and promotions officer.
Uy said a large private school would also be built on a nearby privately owned property, adding value to the area.
Other projects, he added, had already been contracted and awarded but had yet to break ground. —Ed: Corrie S. Narisma
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