Puerto Princesa attracts P27.55B investment pledges

All the foregoing fruits that Puerto Princesa City reap are indeed trailblazers, supporting innovation and advancement.

Puerto Princesa has piqued the interest of local and overseas investors in recent months who made commitments to invest tens of billions of pesos, according to local government executives

Palawan’s capital, Puerto Princesa City, has gained P27.55 billion worth of investments committed by 12 local and foreign firms driven by the ease of doing business and robust infrastructure in the city.

At the recently concluded Puerto Princesa City Business Forum in Pasay City, Mayor Lucilo Bayron reported on the confidence and support the local government unit received from the private sector.

According to him, the projects they pledged — either set immediately or for the next three to five years — will not only bolster the local economy, but also generate employment opportunities for the people.

“We look forward to receiving them to the City of Puerto Princesa as they continue with their investments,” he said, while ensuring that they will always take care of the investors’ needs.

The investments came from various companies in the tourism, food, agriculture, fishery, education, hospitality, healthcare, and information technology-business process management (IT-BPM) industries, among others.

These include Oma I’Dang Maria, which committed P10 million; APL Food Services, P10 million; Puerto Princesa Memorial Park, P25 million; Oneson Properties & Development Corp., P75 million; Princesa Garden Island Resort and Spa, P275 million; Astoria Hotels and Resorts Group, P600 million; Adventist Hospital Palawan, P1.5 billion; YIBU Education Technology Company Ltd., P2.1 billion; Allied Care Experts Medical Center, P3.8 billion; CoHo by Vista land, P3.8 billion; Green Asia Unlimited and Development Corp., P7.55 billion; and SM Prime Holdings Inc. (SMPHI), P17.55 billion.

Bayron attributed the multisectoral investment initiatives to the city government’s sound business reforms, streamlined regulatory and registration processes, and attractive incentive policies.

He, likewise, gave credit to their continuous overhaul of roads, improvement of transport and communication systems, ample supply of basic utilities like water and electricity, and expansion of local and international gateways through airports, seaports and even roll-on/roll-off (RoRo) facilities.

“All the foregoing fruits that Puerto Princesa City reap are indeed trailblazers, supporting innovation and advancement,” said the local chief executive.