CEBU CITY, Philippines – The Cebu Provincial Government officials were advised on Tuesday to invest in the countryside instead of the South Road Properties (SRP).Acting Cebu City Mayor Hilario Davide III said Tuesday that if Cebu Province could match the proposal of the Filinvest Land Inc. (FLI) then it could also afford to develop some of the properties in the province. “If they have so much money, then they should better invest it to the countryside. Choose maybe the top 10 poorest towns, in fifth class municipalities in the province in both north and south,” Davide said. Davide's statement came after officials of Cebu province, which is the richest province in the country, announced their plan to invest in the 300-hectare reclamation property and were willing to match the FLI unsolicited proposal to develop a 10-hectare property under a joint venture agreement with the city of Cebu with an initial P80 billion total project cost for the infrastructure that would be built in that property. Davide, however, advised Capitol to invest in the countryside. “They can help better their constituents if they can do that...Communist style. Mas dako sila matabang and the more their constituents will appreciate them,” he said. He said the Cebu provincial government could establish manufacturing firms and build industries related to the potential of the constituents of that area. They could then employ their constituents without having them to migrate to the cities to look for jobs. “With their Suroy-Suroy, they should have seen the potential of their constituents, and with the (Department of Trade and Industry's project) One Town One Product (they can improve the lives of the people),” he said. Davide, however, said he was confident the province's plan would not affect the city's negotiations with FLI. Davide, who like other city officials were surprised by the province's announcement, said the city government appreciates the Capitol's interest in matching FLI's proposal and welcomed the idea of the Capitol to join the “Swiss Challenge.” City Administrator Francisco Fernandez said the province's move means it has “confidence over the SRP project.” “Maybe they realized that it was a good deal and a good investment on their part,” Fernandez said. “It is very good on our part because competition will always make people honest and that their interest to invest will also encourage other investors from coming.” Mayor-on-leave Tomas Osmeña, who is in the United States undergoing treatment for his urinary bladder cancer, said he did not find any problem with the provincial government's plan to invest in the SRP. Osmeña in a text message to Fernandez said that the Capitol was not really welcome but the investment was important to the city because it would create a competitive atmosphere which will benefit the city. Davide said that if the Capitol is serious in investing, then they should follow certain guidelines and a timetable. The National Economic Development Authority (NEDA) guideline that was followed by the city for a joint venture requires an interested bidder to deposit one percent of the total project cost that will be proposed. “The province can either match the proposal of FLI or go higher,” Fernandez said. So if the province is interested to match then both FLI and the province will deposit the amount set on the NEDA rules. The losing bidder will be refunded the amount while the amount deposited by the winning bidder will stay in the city's coffers and will be part of their full payment. He said if the province’s proposal will be approved, it will have to deposit P250 million in bond once it challenge’s FLI's offer. He said in case the province wins the bidding and it fails to develop the property immediately, the city will hold the deposit until it could be resolved in court. “Pananglitan panglaw-gaw lang na ila they cannot get their deposit and kon dili nila ma develop ang property immediately or kon mag kiha-kiha, then ang ilang kwarta matanggong sa city, and then we can ask Filinvest to develop other portions of the SRP,” Fernandez explained. Mayor-on-leave Tomas Osmeña, who is in the United States undergoing treatment for his urinary bladder cancer, said he did not find any problem with the provincial government's plan to invest in the SRP. /With a report from Correspondent Jully Venus Cuizon | 
