Puerto Princesa Business Forum generates PhP27.5 billion worth of investments

The Puerto Princesa City government generated a total of PhP27.5 billion worth of investments during the city’s first major business forum with theme “Puerto Princesa: Your Investment. Our commitment.” held on September 25, 2019 at the Sofitel Philippine Plaza Manila in Pasay City. Around 300 investors and delegates from the private sector, selected embassies, and the local government witnessed the city government’s showcasing of investment priority opportunities in tourism, agriculture and fisheries, renewable energy, and information and communications, as presented by Mayor Lucilo Bayron. Since 2016, USAID’s Strengthening Urban Resilience for Growth with Equity (SURGE) Project has been providing technical assistance to the city government to improve ease of doing business and asset management, and bolster investment promotion efforts which greatly contributed to the successful business forum. USAID/Philippines Acting Mission Director Patrick Wesner delivered a message of support during the forum. In his message, he commended Puerto Princesa for its robust investment opportunities anchored on environment sustainability, local economic development, and resilient urban planning. Among the private sector speakers who shared positive business experiences in Puerto Princesa were Mr. Jeffrey Ng, President of Astoria Hotels and Resort Group, Mr. Arthur Gindap, Senior Vice President of Robinsons Hotels and Resorts, Mr. Maximo Ricohermoso, Chairman of MCPI Corporation, Ms. Haidee Enriquez, Chief People Officer of Sitel Group, and Mr. Quintin Pastrana, President of WEnergy Power Pilipinas Inc. During the forum, they talked about the reasons why they invested in Puerto Princesa, which include ease of doing business, efficiency and transparency, market growth, and strong local government support. Among the investors who pledged investments during the forum were Green Asia Unlimited and Development Corporation and SM Development Corporation which committed PhP10 billion worth of investments each in the next two to five years.