Office created to focus on Cebu’s investment, economic development

Local

THE Cebu Provincial Government has a newly institutionalized office that will focus on investment promotion, enterprise development and local economic development.

The 17th Sangguniang Panlalawigan has approved on third and final reading the Cebu Provincial Investment and Economic Office (CPIEO) Ordinance of 2026.

As a new permanent provincial department, CPIEO will serve as the principal office of the Cebu Provincial Government for investment promotion, enterprise development, economic policy support, investment facilitation, local economic development coordination, and other related economic development initiatives.

It is mandated to formulate, coordinate, implement, monitor and support policies, programs, projects and other initiatives that promote, develop and improve investor services.

The office will have two divisions: the Investment Promotion and Enterprise Development Division and Administrative Support and Legal Services Divsion.

CPIEO will be headed by Provincial Invesment and Economic Officer whose qualifications include a college degree holder in commerce, business, economics, real estate or any other ealted course; acquired 10 years experience in investment promotion, business development, and enterprise development, among others.

Other functions of CPIEO is to develop and implement an annual investment promotion program aligned with the economic development priorities of the province.

It will also coordinate with the Local Government Units (LGUs), government agencies and stakeholders in the province in the promotion of investments and other related economic development activities.

"By creating the Cebu Provincial Investment and Economic Office, the Province strengthens its ability to respond to emerging economic opportunities, support local enterprises, foster innovation, promote competitiveness, and enhance collaboration among government agencies, local government units, business organizations, development partners, and other stakeholders" read the explanatory note of Board Member Lakambini Reluya, who authored the ordinance.

The ordinance was passed during the Oct. 5 regular session of the provincial board.(MyTVCebu)