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Wednesday, February 25, 2004
Ilonggo producers see bright prospects
By Kathy Villalon Cinco
* IPA president Valeria Maravilla says since last year, they have been experiencing reduction in sales because of the economic crisis, decrease in tourism arrivals and peace and order problem
* The current level and potential further depreciation of the peso, however, can be considered a positive prospect for exports, she adds
A GROUP of manufacturers in the region expects lower domestic purchasing power among Ilonggo consumers this year as a result of the unstable economy and the heavy influx of relatively cheap imported goods.
These are the major challenges manufacturers are facing, said Valeria Maravilla, president of the Ilonggo Producers Association (IPA) and chairperson of Iloilo Small and Medium Enterprises Development Council.
Maravilla told Sun.Star that since last year, they have been experiencing reduction in sales because of the economic crisis, decrease in tourism arrivals and peace and order problem.
"However, the coming election period will mean more cash in circulation so manufacturers should plan how to maximize the benefits they can get from this increase in prospective markets," she said.
Leaders vital
As the government and its leaders, always have a major effect on business, Maravilla said, the voters should carefully choose new leaders.
This is vital because it will have a direct impact on the economy, she added.
Moreover, Maravilla urged her fellow manufacturers to be more aggressive in looking for markets to make business profitable and to be able to survive in these challenging times.
"We should also become more competitive in terms of quality and pricing and develop products acceptable to available markets," she said.
Despite the challenges, Maravilla said the Ilonggo producers have several bright prospects in 2004.
Positive prospect
The current level and potential further depreciation of the peso can be considered a positive prospect for exports, she noted.
"Manufacturers should consider producing innovative and competitive products for export markets. Domestic market potentials will keep growing with the increase in population. Food, shelter and clothing basics will continue to be priority budget items of most people," she said.
Maravilla added: "(They) will have to produce mainly essentials which can compete with imported counterparts and new products attractive to identified markets."
IPA is composed of manufacturers based in Panay and Guimaras, producing food, furniture and fixtures, garments, gifts, toys and house wares.
(February 24, 2004 issue)
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