11/12/2024
Shaping Cebu’s Future through Ecosystem-Driven Growth, Workforce Excellence
The Cebu Chamber of Commerce and Industry (CCCI) envisions a dynamic and inclusive economic ecosystem that bridges industries, academe, and government in Cebu.
In an interview, CCCI President Jay Yuvallos bared the Chamber’s initiatives to sustain growth, address workforce challenges, and promote Cebu as an ideal investment location.
Cebu’s Recovery and Growth Trajectory
Sharing Cebu’s economic recovery this year, Yuvallos said the province experienced a mix of successes and ongoing challenges.
While domestic tourism has bounced back, international arrivals remain below pre-pandemic levels. "Tourism is key, not just for hospitality but for its ripple effects across the local economy," he said.
Yuvallos underscored the need to boost tourist spending through innovative strategies, stating, “It’s not just about increasing arrivals but also ensuring that visitors spend more during their stay.”
The Ecosystem Approach: Aligning Academe and Industry
Cebu Chamber's focus is on fostering collaboration between industry and education. With over 40,000 students graduating annually in Cebu, Yuvallos sees an untapped opportunity to integrate these young talents into the workforce ecosystem designed to meet the region and the country’s evolving needs.
"We need to align educational programs with industry demands," he stressed. The Chamber aims to create a structured Industry-Academe Alliance to address skill gaps and competency to ensure employability, and foster innovation.
He cited the Cebu Educational Development Foundation for Information Technology (CEDFIT) as a model of success, with plans to extend similar frameworks to sectors like hospitality, manufacturing, and creative industries.
“We’re looking at both new skills for emerging industries and retooling for existing ones, ensuring workers are multi-skilled and ready for opportunities even during economic shifts,” Yuvallos added.
Poverty Reduction Through Gainful Employment
Central Visayas has set ambitious targets for GDP growth, aiming to sustain an annual increase of 6.7% to 8.5% over the next five years. According to Yuvallos, this growth could significantly reduce poverty levels, from 26% to as low as 10.5%.
“The key is quality employment,” he said. “If we can harness the dynamism of Cebu’s graduates and match their skills with industry demands, we can not only grow the economy but also, uplift thousands of families from poverty.”
Holistic Alliances for a Sustainable Cebu
The Chamber’s efforts extend beyond workforce development, focusing on holistic alliances to ensure sustainable growth. Key initiatives include:
Power Alliance: Addressing the need for sustainable and affordable energy.
Environmental Stewardship: Protecting Cebu’s environment and cultural heritage.
Institutional Branding: Strengthening Cebu’s identity as a global investment destination with the tagline “Invest in Cebu, Prosper in Paradise.”
Yuvallos also highlighted the importance of inclusivity, ensuring that small and medium enterprises (SMEs) are integral to the Chamber’s plans.
Cebu Business Month: A Celebration of Innovation
Yuvallos envisions the Cebu Business Month evolving into a world-class festival akin to South by Southwest (SXSW) in Texas. He described it as a convergence of business, arts, culture, and innovation, creating a platform for startups, established enterprises, and creatives.
“This is about showcasing Cebu as a hub for innovation and creativity,” Yuvallos explained. “It’s more than a business event—it’s a festival that celebrates what Cebu has to offer to the world.”
Unified Action for Cebu’s Future
Throughout the interview, Yuvallos emphasized the importance of collaboration as the cornerstone of the Chamber's vision. "Cebu’s growth depends on our ability to work together—businesses, schools, and government alike," he said.
By fostering partnerships, upskilling the workforce, and addressing systemic challenges, Cebu can create a more conducive ecosystem where businesses thrive, families prosper, and become a global economic and cultural leader.
