Top business leaders in Bacolod City are optimistic of a better economy in 2008 based on indicators from various sectors.

“I look at 2008 to be bright for Bacolod ,” Roberto Montelibano, president of the Metro Bacolod Chamber of Commerce and Industry, said, adding that the Philippines has also bright prospects with a projected 6.5 to 7.0 economic growth.

Montelibano, also board president of the Central Negros Electric Cooperative, told the DAILY STAR his projection for Bacolod is based on the power requirement growth of the CENECO areas pegged at 13.4 percent this year.

This shows that the industry is happening, he said. “We're very enthusiastic,” he added.

Montelibano said that energy development could be one of the growth sectors, and in the sugar industry, mills are going into power co-generation projects to generate more power supply.

He also noted that the entry of call center companies in Bacolod will continue to spur economic activities. “For every (call center agent) hired, the ripple effect is 10 times,” he said.

Montelibano said the real estate sector, which is related to other economic activities, is also seen to grow this year.

James Chua, president of the Bacolod Filipino-Chinese Chamber of Commerce and Industry, is also optimistic.

“I foresee a better economic activity this year,” he told the DAILY STAR.

Chua said this could be propelled by several factors, including the continuing dollar inflows from Overseas Filipino Workers which largely helps in the strengthening of the peso.

He also said the rise of call centers in the provinces, as in Bacolod and Negros Occidental, will also help the economy as this development will spur new employments.

Chua said the country's booming mining sector could also be a growth driver as well as the agriculture sector.

President Gloria Macapagal-Arroyo had earlier said yesterday she expects the Philippine economy to maintain its vibrancy in 2008 after posting growth in excess of 7.0 percent in the first nine months of 2007.

Arroyo said the government will devote the new year to bringing in investments, improving educational and public infrastructure, and bringing technology to the rural areas where most of the poor live.*NLG

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