Mandaue Investment
Cebu City  Mandaue City   Lapulapu City

MANDAUE CITY --- The city government projected a 13 percent increase in its annual income for next year with the implementation of an intensified tax collection campaign schemes that will generate an expected increase of revenues from export of locally produced products.

City Mayor Thadeo Z. Ouano said the increase is substantial enough, although 12 percent lower that the expected target collection, because of the economic crisis faced by the country arising from the peso-dollar devaluation caused by a slump down of the Japanese yen against the U.S. currency.

Ouano, however, said he sees a bright future in incoming foreign investments here in the city caused by the entry of Japanese investors since he assumed office last July 1.

Isuzu company, owned by Japanese nationals, opened up a subsidiary corporation here forging a joint partnership with the Ayala group of companies headed by Don Fernando Zobel de Ayala.

Another group of Japanese investors known as the Alma Group is also eyeing to open up businesses focusing in banking and lending operations.

Ouano is currently negotiating with foreign firms to boost the city's economic status and increase sales in the world market for our local produce.

"We compromise almost 40- percent of Cebu's export yet our city is not well-known for its fine rattan, shellcraft, woodcraft and wrought iron furnitures and fixtures. It is high time that the world will know that Mandaue is producing those goods not in any other place of the Province, " he said.

Ouano stressed that our locally produced products are of world-class category with prices competitive to other Asian neighboring countries, adding, "our cost of production is lower compared to competing nations selling the same items."

Mandaue is currently earning P337-million in revenues arising from business taxes. It has adopted a low taxation scheme which lured investors to the city.

Rattan and elegant wrought iron outdoor furnitures, stone and shellcraft products, carageenan, among others, are locally produced in Mandaue. Ouano assured the government will do its best to help promote the market of Mandaue's produce outside the country.