Iloilo City Gears Up to be Investment Hotspot

Guided by a comprehensive urban development plan that sets a framework for long-term growth, lloilo is ready for expansion and more growth in all areas of development.

Iloilo City is emerging as a focal point for investment in the Western Visayas region, driven by strategic infrastructure developments, robust economic sectors, and a business-friendly environment.

Local government leaders are gearing up to position the city as a competitive investment destination, underscored by a comprehensive urban development plan that sets a framework for long-term growth.

Strategically located in the heart of Panay Island, Iloilo City serves as a vital gateway to Western Visayas. The city is well-connected, with the lloilo International Airport and its seaport infrastructure providing access to major domestic and international markets.

Iloilo City has gained recognition as a technology hub, earning the distinction of a “Next Wave City” by the Department of Information and Communications Technology (DICT) for its growing business processing outsourcing (BPO) sector.

Iloilo City Mayor Jerry P. Treñas said this connectivity is key to enhancing the movement of goods and services in and out of the region.

“Iloilo City is more than ready for future growth, and we are committed to making our city a place where investors, businesses, and communities can thrive together,” said Treñas, emphasizing the city’s readiness for expansion. “Our strategic location and modern infrastructure give us a competitive edge, and we are making every effort to maximize these strengths.”

The city’s development of road networks, alongside its digital infrastructure – supported by service providers such as PLDT, Smart, and Converge – has further strengthened its appeal to investors.

*We are making sure that lloilo City is not only physically connected but also digitally equipped to support the needs of modern businesses,” Treñas added.

 

Expanding economic sectors

Hoilo City’s economic engine is diverse and continues to expand. Key sectors such as agribusiness, healthcare, education, logistics, and the thriving IT-BPO industry are drawing both local and international businesses.

The city’s growing business district, anchored by developments like the lloilo Business Park, has seen investments from major developers including Megaworld, Ayala, and SM.

“Our business district is becoming a hub for commercial activities in the region,” said Treñas. “The influx of investment is a clear indication that lloilo City is a dynamic player in the national economy, with a tremendous potential for growth.”

Tourism is also a major driver of the economy. Iloilo is quickly becoming a hub for Meetings, Incentives, Conferences, and Exhibitions (MICE), with the lloilo Convention Center hosting several high-profile international events, including Asia-Pacific Economic Cooperation (APEC) meetings in 2015, the recent ASEAN Committee on Culture and Information Sub-Committee and Culture meeting in September 2024, and the upcoming CityNet Executive Meeting in November 2024.

“We are positioning Iloilo City as a top Green MICE destination, with our new campaign.

“Green Meets Great” to signal a liveable, sustainable, and highly urbanized Iloilo City that offers a wide array of green MICE options. The positive feedback from major events is proof that we are on the right track,” the mayor said.

 

Business-friendly environment

In recent years, the lloilo City government has implemented a series of reforms aimed at making it easier to do business. The Business One-Stop Shop (BOSS), an initiative that streamlines the business registration process, is seen as a significant step toward improving ease of entry for new businesses. Additionally, off-site payment centers have been established in commercial areas to simplify government transactions.

“The reforms we’ve introduced have significantly reduced the time it takes to start a business in lloilo City,” said Mayor Treñas. “We want businesses to know that lloilo is open for business, and we are here to support their growth.”

The city also offers investment incentives, including tax breaks and exemptions, particularly in priority sectors such as IT-BPO, tourism, healthcare, and agro-fishery.

The 2023 – 2028 Comprehensive Development Plan Central to the city’s growth strategy is the lloilo City Comprehensive Development Plan (CDP) for 2023-2028, which serves as the blueprint for future urban development.

The plan outlines the city’s ambitions to become a model of a “livable, resilient, and sustainable” city by 2029, with emphasis on disaster resilience, environmental sustainability, and fostering a business-enabling environment.