Cebu's Butch Carungay wins Asia Jewelry Design Gold - Planters ...

Unlike other industrial parks that onlylease the land to locators, the PlantersbankSME Industrial Park is selling industriallots ranging from 1,000 square meters totwo hectares. Combined with financingpackages from Plantersbank, this makes iteasier for SMEs to plan construction andexpansion of their manufacturing plant.As a Special Economic Zone,this project offers incentives to SMEsincluding exemption on taxes and dutieson importation of capital equipment,tax credits for locally sourced capitalequipment, exemption on export tax andimport fees, a four to eight year holiday onincome taxes, and 5-percent income tax ongross income following the tax holiday.“With the rise of the first ever SMEIndustrial Park in Cebu, we hope to spureconomic, industrial and social developmentin the area,” adds Ambassador Tambunting.“In helping SMEs succeed, we are able tospark economic activities leading to morejobs, higher incomes and a better quality oflife, especially in the countryside.”The Plantersbank SME Industrial Parkaims to become the melting pot for Cebu’sfinest and innovative ideas for businessesthat will propel the country’s overall SMEexcellence.Local government officials havepledged support for the Industrial Park.Cebu Governor Gwendolyn Garciaand Naga Mayor Valdemar M. Chiong saidthey would be putting up a port that couldserve roll on-roll off passenger vessels andsmall cargo ships.Governor Garcia added that theprovincial government will pursue otherprojects in addition to the proposed port,that would provide the infrastructureto support the industrial park’s growth.Among the pressing needs are efficientwater supply and alternative routes to andfrom the Plantersbank SME Industrial Parkto the inner roads of Naga.Mayor Chiong said the local governmentwould give additional incentives to locatorsif local residents comprise 80 percent oftheir workforce.“Plantersbank believes that Cebu is thecenter of SME operations in the country,”said Ambassador Tambunting. “We areconfident that this park will not only bea regional industrial center but a centerfor SME excellence that will make Filipinoproducts known worldwide.”New park locator. Pedro Delantar (right) of Nature’s Legacy Eximport signsagreement with Plantersbank chairman Ambassador Jesus P. Tambunting andSenior Vice President Elizabeth C. Umali.Below: It’s a happy moment for Cebu’s Young Entrepreneur of the Year ButchCarungay, founder of Avatar Accessories, one of the first companies to signup for the SME Industrial Park. Butch Carungay’s jewelry designs and fashionaccessories are highly sought in Europe and North America. With him arePlantersbank chairman Ambassador Tambunting and Senior Vice PresidentElizabeth C. Umali.SME Industrial Park Dialogue:Philippine Export Zone Authority chief Lilia de Lima (clockwise fifth fromhead of table) and Plantersbank chairman Ambassador Jesus P. Tambunting(third from right) hold impromptu roundtable with Cebu clients and SMEIndustrial Park locators.12 / sme.com.ph