The Board of Investments (BOI), an attached agency of the Department of Trade and Industry (DTI), is promoting Iloilo City as an investment destination.
In a statement, BOI encouraged investors to do business in the city, the regional capital of Western Visayas (WV).
The country’s lead investments promotion agency recently held a roadshow in the city to “hasten the transformation of the economic landscape of WV.”
The Strategic Investment Priority Plan (SIPP) roadshow was participated by, among others, various firms, industry associations, and local government units (LGUs) in the region.
DTI-6 Regional Director Rebecca M. Rascon encouraged firms and business chambers to coordinate with the DTI and the BOI to identify possible investments.
She stressed that the region is still in need of investments particularly in the area of manufacturing to generate employment.
Meanwhile, Engineer Arecio A. Casing Jr., officer-in-charge (OIC) regional director of the National Economic and Development Authority (NEDA-6), provided an overview of the region’s economic performance.
He noted that WV is still the 5th largest contributor to the Gross Domestic Product (GDP) outside the National Capital Region (NCR).
According to Casing, some of the region’s “comparative advantages” are strategic location, vast agricultural lands, abundant agricultural and fishery sources, prominent ICT-BPM operations, varied energy supply mix, growing dynamism and competitiveness of local government units (LGUs).
He also presented that ongoing infrastructure projects in the region such as Iloilo-Capiz-Aklan Expressway (ICAEx) and Panay River Basin Integrated Development.IMT
Photo by Randy Javier Fadrigo
