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 Iloilo 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 Iloilo City is not only physically connected but also digitally equipped to support the needs of modern businesses,” Treñas added.
Expanding economic sectors
Iloilo 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 Iloilo 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 Iloilo 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 Iloilo 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 Iloilo 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 Iloilo City,” said Mayor Treñas. “We want businesses to know that Iloilo 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 Iloilo 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.
“We have a clear vision for Iloilo, and it’s rooted in sustainable and inclusive growth,” said Treñas. “The Iloilo City CDP is a guide on where we want to go and how we’re going to get there. It’s also an invitation to investors to be part of this journey.”
The CDP, combined with the Iloilo City Comprehensive Land Use Plan (CLUP) and the Iloilo Innovation Roadmap 2030, highlights specific areas where investors can participate.
These include real estate, healthcare, tourism, and education. The government is keen to collaborate with the private sector to push forward projects that align with the city’s vision for growth.
“Iloilo City is at a point where all the critical elements for investment success—strategic location, skilled workforce, and supportive local government—are in place,” said Mayor Treñas.
