NEW INVESTMENT. President Ferdinand R. Marcos Jr. (in sunglasses) gets a briefing from Megaworld Corporation president and chief executive officer Kevin Tan at the capsule-laying ceremony of the Mactan Expo Center in Lapu-Lapu City, Cebu on Saturday (April 27, 2024). The President vowed government support for the continued development of the province. (PCO)
MANILA – President Ferdinand R. Marcos Jr. on Saturday vowed to push for the development of investments that will solidify Lapu-Lapu City and the entire Cebu province as among the leading drivers of economic growth in the Philippines.
In his speech during the capsule-laying ceremony of the PHP1.5-billion Mactan Expo Center at Mactan Newton in the city, President Marcos said the government will continue investing in the success of Cebu.
“I am delighted to be here in Mactan Newtown to lead the capsule laying of the Mactan Expo Center, which is a part of the grand township being developed by our friends in Megaworld,” President Marcos said in his speech, referring to the real estate giant.
He said through Megaworld’s pioneering live-work-play township development, it has cemented its role as a crucial player in shaping the Philippines as a hub of progress.
“The Mactan Newtown is the latest testament to their team’s passion, dedication, and brilliance -- and new concepts and new ideas on how to develop our country. This township will further strengthen the city’s position as a major destination for key business events, both local and international,” he said.
He said the significant participation of the private sector in nation-building will be matched by government efforts.
“The government, for its part, will also continue to invest in its success, which is why in 2024, the DPWH (Department of Public Works and Highways) is funding about PHP2.9 billion in infrastructure projects here in Lapu-Lapu City alone,” President Marcos said.
The DPWH projects include road widening, which will significantly decongest traffic along major thoroughfares such as the Mactan Circumferential Road and the Mactan Airport Road, and the Official Development Assistance-assisted Cebu-Mactan 4th Bridge and Lapu-Lapu City Coastal Road, the President said.
The expo center is expected to entice more investments through the Meetings, Incentives, Conventions, and Exhibitions sector.
The President also recognized the strategic location of the development, particularly its proximity to Mactan-Cebu International Airport, resorts, and hotel development.
“There is no better way to end a long day of meetings or conferences than to enjoy the beaches of Mactan, partake in its local food, drinks, and delicacies, take a short trip to nearby Cebu City, experience its sights and sounds. And this investment will certainly solidify Lapu-Lapu City and the Province of Cebu’s position as a leading driver of growth and prosperity in the country,” Marcos said.
The President led the ceremony on the sidelines of the 503rd commemoration of Lapulapu’s victory over the Ferdinand Magellan-led Spanish forces.
“All the feats that we are witnessing today follow in the footsteps taken by our valiant heroes, Datu Lapulapu and his warriors,” Marcos said.
He said the Philippines is honoring the heroism of Datu Lapulapu by “taking brave steps in developing the island and helping the people who they fiercely fought for more than 500 years ago.” (With Filane Mikee Cervantes, PND/PNA)
