January 12, 2018
ILOILO City – The Iloilo Provincial Government is exploring the establishment of “economic zones” as an approach to keep investments upbeat.
“Right now we are conducting Geographic Information System (GIS) of areas where we will develop these economic zones,” Velma Jane Lao of the Provincial Local Economic and Investment Promotions Office said in a radio interview.
Initially identified as potential “economic zones” are the towns of Dumangas for logistics and light industries, Leganes for agri-industrial economies, and Passi City and Concepcion for the manufacturing industry.
“Within this January, we hope to present the results of the GIS and then we prepare investment packages to prospective investors,” Lao said.
With this, the Provincial Government seeks to continuously provide its 43 municipalities with enabling environments for investors, like the implementation of electronic business permits and licensing system.
“We were able to reduce processing from three days to 15 minutes,” Lao said.
The provincial government has also provided financial access to 1,200 micro small and medium enterprises.
Lao said that microfinance development is among the strongest programs of the provincial government generating about P1.5 million for capital expansion and loans, and P1.7 million during trade fairs. (PIA/PN)