Iloilo posts 7% hike in new investments-A A +A
Thursday, August 29, 2013
ILOILO City is considered as a haven for new business and investment as it maintains a seven percent year-on-year hike in new investments from 2011 to August of 2013.
Iloilo City Trade Investment Promotions Board Member Francis Cruz said the investment in 2012 posted seven percent or P593,556,410 hike over the P556,543,568 in 2011.
The investment increased at seven percent over the 2012 investments, which translates to a difference of P43,256,177 hike in 2012-2013 as compared with the P37,012,842 in 2011-2012.
The business climate in the city brought major investments on real estate and service sector with the first P19-billion worth of coal-fired power plant as the biggest new investment in 2011.
Other major investments in 2011 include the Florete Land Inc. with P132,872,382; Sunnyfield E-Office Corporation with P152,920,348; and Iloilo Mission Hospital with P50,000,000.
From January to August 2013, records showed that contractors and other independent contractors lead the investments with P184,518,076, followed by other services with P143,228,983; retailers with P43,205,000; lessor and brokers of real estate with P69,973,295; banks and other financial institutions with P51,694,371; wholesaler, distributor, dealer with P43,205,000; cafes, cafeterias, ice cream and refreshment parlors with P28,155,000; essential commodities P9,802,600; manufacturing and assembler P7,780,000; non-stock and nonprofit business P7,595,000; amusement P6,969,236; producers P2,050,000; printing and publication P300,000; and other kind of business P100,000.
Cruz said the indicators of the dynamic growth are the banks, financial institutions, and contractor investment growth.