Puerto Princesa awaits more investment

The local government of Puerto Princesa is eyeing another round of investment as it holds an investment briefing on October 1st. January 27, 2022 at the Conrad Hotel, Pasay City.

This is a continuation of the successful national forum, which was also organized by the city in 2019 and attracted investments of over 26 billion pesos.

Puerto Princesa Mayor Lucilo Byron will present investment opportunities in key sectors of the city and will be joined by some of the country’s top business people who have seen the city’s investment potential and are actively involved in its development. Among them are Vivian Ann Ng, COO of Astoria Hotels and Resorts, and Noel Cariño, founder and chairman of the Fil-Estate Group.

“Puerto Princesa boasts the potential to become an economic powerhouse in the Philippines due to various secular trends. First, its strategic location in the East Asia Growth Zone (Association of Southeast Asian Nations) Brunei-Indonesia-Malaysia-Philippines (BIMP-EAGA) makes the city accessible to investors and tourists who want to experience what it can offer,” the city said in a statement.

Puerto Princesa is a partner city of the U.S. Agency for International Development’s Urban Development Initiative, which paves the way for city governments to implement robust business reforms, simplify regulatory processes to lower the cost of doing business, and strengthen public-private partnerships.

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The city added that it is known for its abundance of natural resources, which also provides many business opportunities for the development and growth of various sectors of the city – be it renewable energy, tourism, recreation or agriculture.

It goes on to say that the city is increasingly becoming the place of choice for people who want to raise children, given its rural character that easily integrates into their urban tastes and lifestyles. The City said that due to the development of several mixed-use communities, Puerto Princesa continues to grow as a cosmopolitan hub.

“With its prospects for greater prosperity, Puerto Princesa will become one of the economic centers of the Philippines, capable of meeting the needs and demands of every Filipino,” the city government said.