Public markets eyed as economic enterprises
Iloilo City Mayor Jed Patrick Mabilog is planning to make all eight city public markets profitable economic enterprises open to commercial shops and offices.
Mabilog said he is offering the markets for investment under the build-operate-transfer (BOT) scheme that will convert the markets into profitable shops, offices for call centers, and wet and dry shops.
He said the city has received many offers to locate their business in the public markets in busy commercial areas accessible to transportation and other service delivery offices.
The BOT scheme of 30 years is enough for investors to recoup their investment and return to the city government the public markets, Mabilog said.
The city public markets include the central and terminal markets in the City Proper and the markets in the districts of La Paz , Jaro, Mandurriao, Arevalo and Molo.
Mabilog said the city government is spending some P50 million every year for the maintenance of city public markets under the economic enterprise department.
With the conversion of these public infrastructures to BOT establishments, renovations and improvement will be realized to make them more profitable with rentals from business locators.*PNA
