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'MERCHANTS PARADISE' READY FOR ASEAN LEADERS' SUMMIT

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.

Concerning the security for the event, Mayor Ouano says that "security preparations are going smooth and consultations with all the securities of the various leaders have been done. We have also asked the Federal Bureau of Investigation (FBI) of the US for some assistance just so that all the bases are covered." The tight security is expected to increase by October as initial meetings and conventions are to be held before the summit itself.