Iloilo business groups eye P500M in new ventures

The Metro Iloilo-Guimaras Economic Development Council (MIGEDC) said it was looking at at least P500 million worth of new business ventures created from the investment forum that it will hold with the Iloilo Economic Development Foundation Inc. (ILED) this week, with a wide range of industries seen benefiting from the infusion of new capital.

“As economic developments are moving beyond the borders of Iloilo City, the Metro Iloilo-Guimaras Alliance invites investors to look into the growing economies of these new areas for it provides a rare opportunity to grow their investments,” Iloilo City Mayor Jerry Trenas, who sits as the chairperson of the Council, said in a statement.

According to the MIGEDC executive director Velma Lao, who is also the head of the Local Economic Development and Investment Promotions Office (LEDIPO), there are investment opportunities in the ICT-BPM (information and communications technology–business process management) sector, as well as in logistics manufacturing, tourism, healthcare and real estate, among others.

“We want to showcase investable areas for the different municipalities outside Iloilo City. This will benefit not just the city and Metro Iloilo but of course all adjoining towns,” said Lao.

During the planned investment forum, Treñas and Guimaras Governor Joaquin Carlos Rahman Nava will present about Metro Iloilo-Guimaras as an investment hotspot.

Meanwhile, former Senator Franklin Drilon—a native Ilonggo who is credited for being largely responsible for attracting investments in infrastructure in Iloilo City and the province—will deliver the opening remarks during the event along with Iloilo Governor Arthur Defensor Jr.

United States Agency for International Development (USAID) Mission Director Ryan Washburn will also deliver a keynote address.

The province of Iloilo in the Western Visayan region is comprised of Iloilo City, its capital and largest city, as well as of the island province of Guimaras and the municipalities of Cabatuan, Sta. Barbara, Pavia, Leganes, Oton and San Miguel.

Leganes is seen having the potential to host an economic zone development, with its 286 available land area consisting of 100 hectares of privately-owned land and another 186 hectare property of the local government unit.

On the other hand, Sta. Barbara is envisioned to become a recreation and retirement hub, as well as becoming a mixed development area with livability and environment-friendly industries. INQ