RP economic managers vow to raise competitiveness of Western Visayas

Iloilo City (5 March) — The Philippine government economic managers said that for 2007, they plan to raise the competitiveness of the Western Visayas region by continuing investment in major on-going infrastructure projects, during their Economic roadshow in Iloilo City facilitated by the Government’s Investors Relations office.

Budget Secretary Andaya said these infrastructures include the Iloilo and Bacolod airports and the Northern Negros Geothermal project. He added that they are also carefully considering a number of proposed infrastructure projects in the region that would total close to P43 billion.

NEDA Regional Director Arturo Valero said the region has a healthy economic performance in 2006, with a higher employment rate and gross regional domestic product growth rate than the national average.

The major infrastructure projects in 2007 will enable the region to contribute to sustaining the country’s economic momentum as well as keep a sustained strength in the tourism industry.

Dir. Valero also said that it is expected that power supply relief and continued positive performance in the agriculture sector will also enhance the region’s economic performance for the year 2007.

Meanwhile Finance Secretary Gary B. Teves told the audience in that Iloilo economic briefing, that there are so many positive signs that the country’s economic reforms are taking hold and the government is on track to meet its aggressive but achievable goal of a balanced budget by 2008. (PIA 6/ES Subong)

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