malaysiang
Iloilo City – Iloilo City has successfully garnered over PHP1 billion in investment commitments as a result of a recent business forum organized by the Iloilo Economic Development Foundation (ILEDF) in collaboration with the Metro Iloilo-Guimaras Economic Development Council (MIGEDC).
According to Philippines News Agency, Mayor Jerry Treñas revealed that the forum, held at a hotel in Pasay City on November 20, yielded significant financial commitments. Among these is a major investment from the Ilonggo homegrown firm La Filipina Uygongco Group of Companies. “For only one investment, the La Filipina Uygongco is PHP1 billion. They will establish a feed mill in Barangay Ingore,” said Treñas in an interview on Tuesday.
Other notable interests include the SMX Convention Center’s plan to build a new convention center in Iloilo City and Rockwell Land Corporation’s intention for a mixed-use development project. Treñas emphasized the need for additional convention spaces, citing the growing demand for professional group gatherings that the existing Iloilo Convention Center can no longer accommodate.
Another significant development is the planned modernization of the Iloilo Port Complex in the Loboc, Lapuz district. The Philippine Ports Authority (PPA) has agreed to bid out the terms and references for this project. The International Container Terminal Services Inc. (ICTSI) has expressed interest in the project and, once involved, could facilitate direct international shipments, reducing transfer times and fees for imported goods such as construction materials, rice, and other agricultural products.
The ICTSI’s involvement, as mentioned on their website, includes a proposal to modernize both the Iloilo port complex and the Dumangas port in the town of Dumangas, with plans to manage both ports eventually.
Treñas expressed optimism about these developments, stating, “I think, we are moving on the right track.”
The investment forum’s objective was to attract investors to the growing economies of the MIGEDC member areas, which include Leganes, Pavia, Sta. Barbara, Cabatuan, Oton, San Miguel, and the province of Guimaras. Initially, the forum aimed to secure around PHP500 million in investments, a target that was significantly surpassed.
MIGEDC, established in 2006, is an initiative for inter-local government cooperation focusing on private sector-led and market-driven growth. ILEDF serves as the umbrella organization for various business groups in Iloilo.
