ILOILO City – More than 400 market vendors from Iloilo City’s seven major public markets were trained in financial literacy and business management on March 31, as part of the local government’s ongoing efforts to prepare stakeholders for the full redevelopment of city markets.
The Capacity Development Program, held at SM City Iloilo, aimed to equip vendors with tools to better manage and grow their businesses amid the modernization of public markets. Participants came from Iloilo Central Market (186), Terminal Market (66), La Paz (45), Jaro Big (37), Jaro Small (32), Mandurriao (28), and Arevalo (27).
Mayor Jerry Treñas lauded the vendors’ contribution to the city’s economic recovery, noting that improved financial management has resulted in a budget surplus for market operations.
“Our markets used to run on deficits, unable to pay for electricity and personnel. Today, we are debt-free and operating with a surplus,” Treñas said.
Resource speakers from Banco De Ooro – Ma. Paz B. Meso of the OFPU Visayas, TBG-Remittance Team; and Michelle Papna, Unit Head of BDO-NB MSME – provided lectures on financial literacy and introduced the MSME Kabuhayan Loan.
An open forum was also held to address vendors’ specific queries.
The training was jointly organized by the Iloilo City Government, through its Local Economic Enterprise Office (LEEO), SM Prime Holdings, Inc., and BDO.
The city’s flagship market redevelopment project, implemented through a public-private partnership, covers the Iloilo Central and Terminal Markets. Treñas said the upgraded markets will offer well-zoned stalls, ample parking, and improved facilities that will benefit both vendors and consumers, and ultimately boost local economic activity./PN
