12th ASEAN Summit

IS the Cebu International Convention Center (CICC) a white elephant or a golden dragon?

This was the question raised by Jose Luis Yulo of the Philippine Exhibits and the Themeparks Corp. (PETCO), the firm awarded the interim contract to manage the CICC.

Yulo, former president of the Philippine Stock Exchange, spoke during yesterday's presentation of a cost-analysis of the CICC by Gov. Gwendolyn Garcia.

Yulo answered his own question, by showing the activities held in the CICC and forthcoming bookings.

He said the CICC earned P2.7 million in the past four months.

Aside from hosting the 12th Association of Southeast Asian Nations (ASEAN) Summit, 20 activities are lined in 2007 and six more next year.

The calendar includes the Miss Mandaue pageant, a Lion's Club Convention, Ng Khai-IT Education Conference, Cebu Asean Tourism Congress, Cebu ICT International Exhibition and Conference, Grand Chamber Awards, Cebu Municipalities: Festival of Festivals, Philippine International Travel Exchange, Philippine Food Cuisine Congress and the Christmas Fair in Cebu.

Based on data from Petco, 10 events were held at the CICC from January to April, gathering 19,814 people who used the venue, and contributed P103.05 million to Cebu's economy.

Yulo said cities all over the country are investing in convention and exhibition centers because of its “multiplier-effect benefits” for the host city and country.

“Conventions and exhibitions benefit industries through increased business activities due to the build requirements of the events and the needs of its participants,” he said.

Governor Garcia said the CICC in the Mandaue Reclamation Area would undergo a “reconfiguration” to suit the needs of different industry players.

She said she thought of shutting down the center to make improvements “but we were overtaken by events” she said, referring to the bookings already made.

“We are now running at P581 million (CICC construction cost) and I would dare say we will be spending more but I will do so because I know that I have nothing to hide. Everything is as transparent as can be,” she said.