Iloilo City has experienced a notable increase in business permit renewals, marking a 15% rise compared to the same period last year, according to Velma Lao, head of the Local Economic Development and Investment Promotion (LEDIP) Office. The Business Permit and Licensing Division (BPLD) issued 14,473 renewal permits from January 1 to 31 this year, surpassing the 12,593 renewals in the corresponding period of 2023 by approximately 1,900.
Lao highlighted the positive sign, indicating a robust and vibrant economy. She emphasized the need to sustain this economic vibrancy, expressing support for local businesses and the continued attraction of new patrons such as tourists, relatives, overseas Filipino workers (OFWs), and friends.
Business owners are reportedly enthusiastic about conducting business, foreseeing growth in 2024 and expressing confidence in the current business climate.
Lao credited Mayor Jerry Treñas's initiatives for this achievement, including the establishment of a one-stop-shop in four off-site payment centers, in addition to the city hall, contributing to a favorable business environment. The off-site payment centers are situated in SM City Iloilo, Festive Walk Mall at Megaworld, The Atrium, and Marymart Center.
In addition to the increase in permit renewals, Lao highlighted the positive trend of 219 new businesses obtaining permits in January, further contributing to the city's economic activity.(PNA)
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