SUMMARY
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MANILA, Philippines – Iloilo City eyes an opportunity in the high profile nature of the Asia-Pacific Economic Cooperation (APEC) meeting to be hosted by the Philippines.
The meeting, titled “Fostering APEC’s Infrastructure through Long-term Investment and Capital Market Development,” will be held at the Royal Garden Hall Convention Center in Iloilo City from July 23 to 24.
“Hosting APEC is a way to boost awareness of the investment opportunities and strengths of Iloilo City as an investment destination,” Iloilo City Mayor Jed Patrick Mabilog said.
The Mayor said that 400 hectares of reclaimed land in Iloilo City is currently being developed to become an industrial zone.
The city received P150 billion ($3.3 billion) worth of investment pledges in 2013 from various private enterprises intending to locate in the zone. So far, he said, about 60% of the amount has already been spent by investors that have started construction.
On top of this, Mabilog added, another 400 hectares of reclaimed land had been identified by the city government for the establishment of another business.
The mayor boasts of Iloilo City’s high-quality workforce with 99% literacy rate and a secure supply of electric power with its coal-fired power plant.
He also said that the city government, recognized by the National Competitiveness Council as number one in terms of local government efficiency, observes business-friendly processes.
APEC meeting
The city’s hosting of the APEC meeting is a good opportunity to help realize the goal of investment generation, the mayor said.
Delegates include financial experts and senior officials from finance ministries across APEC member-economies, as well as representatives from international development institutions.
Mabilog hopes the host city will leave an impression on the delegates who will gather to talk about infrastructure and capital market development in the Asia-Pacific region.
“The economic outlook for Iloilo is very dynamic, and we have a lot of potential to grow. We look at Iloilo City as a globally competitive, premier city.” – Rappler.com
$1 = P 45.23
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