ILOILO City – With evident progress and the local economy reflecting full recovery from the coronavirus pandemic, more investors were enticed to explore opportunities in this southern city last year.
As Nov. 30, 2023, the city welcomed 2,619 new businesses out of 18,790 businesses issued with permits, data from the city government’s Investment Services, Business Permit and Licensing Division (ISBPLD) showed.
This is higher compared to 17,379 business permits issued in 2022, composed of 2,590 for new businesses and 14,789 for renewals.
Mayor Jerry Treñas stressed that good business climate is a result of the city government’s successful initiatives, good promotion of Iloilo City, and the investors’ trust and confidence in the local leadership.
“We have been recognized as one of the leading investment hubs in the country, and we remain committed to even strengthen our collective efforts in attracting more investment prospects that can benefit not only Iloilo City, but also Metro Iloilo and Guimaras,” the city mayor said.
The establishment of off-site payment centers in malls such as The Atrium, Marymart Mall, Festive Walk and SM City Iloilo is one of the landmark initiatives of the city government.
These centers helped a lot as they have provided easy, fast and convenient access for those who are applying for renewal and payment of business permits, and other payment-related transactions.
Also in November, the Metro Iloilo- Guimaras Economic Development Council (MIGEDC) chaired by Treñas, in partnership with Iloilo Economic Development Foundation, Inc. (ILED), brought to Manila its first Investment Forum.
The MIGEDC investment forum has generated over P1 billion worth of potential investments, higher than its P500-million initial target.
The Ilonggo homegrown firm La Filipina Uygongco Group of Companies, for one, is planning to establish a feed mill in Barangay Ingore, La Paz district.
Also, SMX targets to put up a bigger convention center in the city while Rockwell Land Corporation is eyeing a mixed-use development./PN
