Western Visayas will have bright prospects in business for 2007, an official of the National Economic and Development Authority 6 said. Raul Anlocotan, NEDA 6 chief economic and development specialist, spoke at the meeting of the Joint City Peace and Order Council and the City Disaster Coordinating Council on Wednesday afternoon held at the Casino Filipino Hotel in Bacolod City, a press release from the City Mayor's Office said.

Anlocotan came in behalf of Regional Director Arturo Valero who was invited to talk about NEDA's Program and Economic Outlook for 2007.

Officials present at the meeting were Bacolod City Mayor Evelio Leonardia, chairman of the CPOC, Vice Mayor Renecito Novero , and City DILG Director Ireneo Asuga Jr.

Anlocotan discussed the Economic Performance of Western Visayas for 2006, including notable accomplishments of 90 percent employment rate, good crop production, and increase in business name registration in the provinces of Aklan, Capiz and Iloilo that were attributed to the opening of new restaurants, hotels and resorts.

He added that last year, more Korean and Chinese tourists arrived in the region, especially in Boracay Island. Western Visayas is a vacation haven for these foreign nationals especially during the winter months in their respective countries, he said.

As Anlocotan discussed the prospects of the regional economy for the year, he called for peaceful and credible elections in May.

Favorable results, he said, will increase investor confidence in the country, lead to a more stable currency, enhance stock market investments, boost the entry of foreign capital investments and lower bank interest rates, the press release added.*

back to top