Services sector boosts Iloilo City 's growth

By Jeehan V. Fernandez

Iloilo City provides a critical link between goods and services. Economist Winston Padojinog stressed this during last week's economic briefing hosted by the Iloilo Business Club (IBC).

Padojinog , a senior economist of Industry Group-School of Economics of the University of Asia and the Pacific talked about investment opportunities in Region 6 in the said economic briefing.

“ Western Visayas is an agri-business, service-driven economy,” Padojinog said, adding that the services sector provides a critical support to the agri-business sector.

Padojinog pointed out that the investment opportunities in the region include agri-business ventures such as traditional crops like palay and high value crops like corn and copra ; fisheries; logistics services; and retail and wholesale trading.

“The province of Iloilo is the center of food production while the city is the hub for services,” Padojinog cited.

Western Visayas is an important supplier of food to the major urban centers of the country, he added.

“Being a service-driven economy, supplying an educated, highly-skilled manpower is the city's most important contribution,” Padojinog said.

Padojinog noted that investment opportunities in the services sector are vocational and formal education at all levels; medical; retailing; professional; recruitment and placement; domestic tourism facilities; and logistics and distribution.

In the agribusiness sector, Padojinog urged businesspeople for diversification to non-traditional crops like mango, durian, among others. There should be enhanced food production capabilities of meat products like hogs, cattle and poultry, he said.

Further, he noted the municipal and aquaculture production for the domestic market; trading of agri -inputs and final products; manufacturing; farm implements and equipment; farm inputs; and food processing activities.

Padojinog also encouraged businessmen to engage in restaurants and eateries; housing subdivision projects; banking and investment instruments; vehicle sales; domestic tourism facilities and support amenities.

Meanwhile, he even lured investors on venturing into IT-enabled services like contact centers, medical and legal transcription, animation, finance and accounting; facilities for foreign tourists; international logistics and forwarding services; and import and export of goods.

“Entrepreneurs need to hone their business foresights and acumen with a more scientific method of looking at the external environment and running a business,” Padojinog explained.

“Competition is a reality,” Padojinog stressed that with a more globalized economy, investors should expect intense competition coming from products and services abroad.

“However, globalization also present opportunities to tap markets and to source services and products from the other areas and abroad,” he added.


Classifieds Festivals Hotels Events Restaurants Forum Archives About Us Guestbook Feedback Search What's new	Services sector boosts Iloilo City 's growth By Jeehan V. Fernandez Iloilo City provides a critical link between goods and services. Economist Winston Padojinog stressed this during last week's economic briefing hosted by the Iloilo Business Club (IBC). Padojinog , a senior economist of Industry Group-School of Economics of the University of Asia and the Pacific talked about investment opportunities in Region 6 in the said economic briefing. “ Western Visayas is an agri-business, service-driven economy,” Padojinog said, adding that the services sector provides a critical support to the agri-business sector. Padojinog pointed out that the investment opportunities in the region include agri-business ventures such as traditional crops like palay and high value crops like corn and copra ; fisheries; logistics services; and retail and wholesale trading. “The province of Iloilo is the center of food production while the city is the hub for services,” Padojinog cited. Western Visayas is an important supplier of food to the major urban centers of the country, he added. “Being a service-driven economy, supplying an educated, highly-skilled manpower is the city's most important contribution,” Padojinog said. Padojinog noted that investment opportunities in the services sector are vocational and formal education at all levels; medical; retailing; professional; recruitment and placement; domestic tourism facilities; and logistics and distribution. In the agribusiness sector, Padojinog urged businesspeople for diversification to non-traditional crops like mango, durian, among others. There should be enhanced food production capabilities of meat products like hogs, cattle and poultry, he said. Further, he noted the municipal and aquaculture production for the domestic market; trading of agri -inputs and final products; manufacturing; farm implements and equipment; farm inputs; and food processing activities. Padojinog also encouraged businessmen to engage in restaurants and eateries; housing subdivision projects; banking and investment instruments; vehicle sales; domestic tourism facilities and support amenities. Meanwhile, he even lured investors on venturing into IT-enabled services like contact centers, medical and legal transcription, animation, finance and accounting; facilities for foreign tourists; international logistics and forwarding services; and import and export of goods. “Entrepreneurs need to hone their business foresights and acumen with a more scientific method of looking at the external environment and running a business,” Padojinog explained. “Competition is a reality,” Padojinog stressed that with a more globalized economy, investors should expect intense competition coming from products and services abroad. “However, globalization also present opportunities to tap markets and to source services and products from the other areas and abroad,” he added.


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