SMC eyes Mandaue for strategic industrial hub
Conglomerate San Miguel Corp. plans to build an industrial estate in Mandaue City, Cebu, citing its commitment to boost domestic manufacturing and create new jobs outside the capital region.
The project, to be jointly undertaken with the City Council of Mandaue, would have a processed foods plant, feed mill and other manufacturing facilities. It would also have its own port terminal.
The conglomerate has yet to disclose how big the industrial estate would be as negotiations were still ongoing to secure the land needed for the project.
“We look forward to growing our presence in Mandaue City. This major development is an important part of San Miguel’s current expansion in key regions nationwide,” SMC president and chief operating officer Ramon S. Ang said in a statement.
“Our aim is to support and accelerate our country’s economic development by investing in strategic and emerging growth areas. With this investment, we hope to help accelerate the city’s and the region’s overall growth and bring more jobs to our countrymen here,” he added.
Mandaue City Mayor Luigi Quisumbing and the city council welcomed SMC’s interest to invest in their city.
“It’s a strong validation of Mandaue City’s status as a premiere investment destination,” Quisumbing said.
A usual critique against the Philippine growth model is its jump from agrarian to services-oriented economy while skipping the industrial phase, a critical part in creating more jobs especially for low- and semi-skilled workers.
Many industrial estates have been established in North and Southern Luzon but a key dilemma among developers is dwindling space especially in areas close to Metro Manila, where the residential property market is booming.
In the case of SMC, its planned industrial estates are located outside the National Capital Region. Last year, the group opened a 2,000-hectare industrial estate in Malita, Davao Occidental to potential investors and locators.
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