More than 16,000 business establishments in Iloilo City registered and renewed their permits this year, data from the Local Economic Development and Investment Promotion (LEDIP) Office showed.
The city government’s LEDIP approved a total of 16,018 business licenses and renewal applications from January to March this year, higher compared to 14,311 recorded in the same period last year.
“The economic revival has been felt since last year; we are gradually coming out of the pandemic, and people are starting to catch up with marketing and sales,” LEDIP head Velma Lao said.
“The facilitating factor for the increase in business applications is the dynamism of the local economy and the business-enabling environment. It is also because the city government continues to promote the market, where it is seen that there is an influx of people going in and doing business in the city,” she added.
Accordong to Lao, this year’s sales are higher than 2019 in most sectors, especially in the tourism sector like hotels and restaurants.
The business industry in the city is classified into 40% for Wholesale and Retail Trade, 18% for Accommodation and Food Service, 12% for other service activities, 10% for Real Estate, 5% for Transportation and Storage, 3% for Manufacturing, and 2% for activities related to Human Health, Social Work, Financial and Insurance Services, and Education.
“LEDIP is dedicated to aiding in the revival of a stronger and more stable economy in the city by providing more possibilities for investments and business growth,” Lao siad.IMT
