BACOLOD City – Negros Occidental and Iloilo rank among the Philippines’ wealthiest provinces based on assets, according to the 2022 Annual Financial Report for Local Government Units of the Commission on Audit (COA).
Both Western Visayas provinces secured the eighth spot with Negros Occidental reporting P19.419 billion and Iloilo registering P19.977 billion in assets.
Notably, Negros Occidental dropped two positions from its sixth-place ranking in 2021, when it had P18.025 billion in assets.
Renowned as the “Sugarbowl of the Philippines,” Negros Occidental contributes to over half of the country’s sugar production.
The province, consisting of 19 municipalities and 13 cities subdivided into 662 barangays, holds the distinction of having the most chartered cities among all Philippine provinces. While Bacolod serves as its capital, it operates autonomously as a highly urbanized city.
The list’s frontrunner remains Cebu, boasting assets of P235.7 billion. This marks the ninth successive year Cebu, the economic and commercial hub of Central Visayas, has clinched the title of the Philippines’ richest province.
Other provinces rounding out the top spots include Rizal in second place with P35.6 billion, Batangas in third with P32 billion, Davao de Oro in fourth with P23.1 billion, and Ilocos Sur in fifth with P21.6 billion. Bukidnon (P21 billion) and Cavite (P19.3 billion) occupied the sixth and ninth places, respectively, while Pampanga’s P19.1 billion pushed it to the tenth spot, ousting Palawan.
The 2022 COA report encompassed 81 provinces, 147 cities, and 1,487 municipalities, extending to the Bangsamoro government and its 27 municipalities. (Watchmen Daily Journal)/PN
