Mandaue City — the so-called 'Merchants Paradise' situated in the Province of Cebu, central Philippines — is ready to host the Association of Southeast Asian Nations (Asean) Leaders' Summit slated in December this year.
According to City Mayor Thadeo 'Teddy' Ouano, preparations are ahead of schedule.
Work on the 750-million-peso Cebu International Convention Centre (CICC) is expected to be completed by October, while the Asean Leaders' Summit will be held in December as planned. The yearly summit is where the leaders of the member-countries of Asean meet to discuss regional issues and developments on past projects.
Mandaue City has long been known as a Merchants Paradise well before the time of Portuguese explorer Ferdinand Magellan and the Galleon Trade that began in the area 482 years ago.
Ouano's move to waive sales tax in the city is expected to make investors even more agreeable to setting up new businesses here.