Iloilo City’s abundancy in terms of natural resources and business opportunities can be dated back in the 1560’s where the city became the source of food supply of Cebu during the Spanish Colonial Period. Trading was primarily engaged with tobaccos and textiles by the Panayanos while sugar became the most sufficient resource of the island during that time. In the early 1700’s, economic transformation took over the entire region and weaving became the primary livelihood. The earliest recorded direct foreign exportation from Iloilo took place when a Portugese ship loaded dye wood (sibucao) headed for Macau. Iloilo then opened to foreign non-Spanish commerce and transactions; international trading occurred. By the 1900’s, the city became known as the “Queen City of the South”. Along with the construction of the fish port, international sea port and other commercial establishments, Iloilo developed into the regional center of Western Visayas; the Visayan region entry of commerce. Investment of business institutions and average family income increased. 1 As of January 2010, there are about 8,851 properly approved businesses issued with corresponding business permits by the City Government, while in the first quarter of 2011 there were already 7,074 approved business establishments with due issuance of business permits. 2 The city has 54 universal, 12 commercial, 10 thrift, 2 rural, 11 savings and 2 development banks or a total of 91 banks which included branch offices in the different districts. There are 2, 729 businesses registered at the Department of Trade & Industry (DTI) with a total investment of Php 747, 238, 728 as of 2009. 1 Socio-Economic Profile 2011, City Planning and Development Office, Iloilo City (2011). The Republic of the Philippines Iloilo City Government: The Premier City by 2015. Retrieved from http://www.iloilocity.gov.ph/aboutiloilocity.php 2 City Planning & Development Office, Espejo A. , Celiz J., Wendam M., et al. (2011). We are open for Business: A Briefer for Investors, A Guide for Economic Ventures. Retrieved from http://iloilocity.gov.ph/downloads/investmentguide.pdf
Iloilo Citys abundancy in terms of natural resources and
business opportunities can be dated back in the 1560s where the
city became the source of food supply of Cebu during the Spanish
Colonial Period. Trading was primarily engaged with tobaccos and
textiles by the Panayanos while sugar became the most sufficient
resource of the island during that time. In the early 1700s,
economic transformation took over the entire region and weaving
became the primary livelihood. The earliest recorded direct foreign
exportation from Iloilo took place when a Portugese ship loaded dye
wood (sibucao) headed for Macau. Iloilo then opened to foreign
non-Spanish commerce and transactions; international trading
occurred. By the 1900s, the city became known as the Queen City of
the South. Along with the construction of the fish port,
international sea port and other commercial establishments, Iloilo
developed into the regional center of Western Visayas; the Visayan
region entry of commerce. Investment of business institutions and
average family income increased. [footnoteRef:1] [1: Socio-Economic
Profile 2011, City Planning and Development Office, Iloilo City
(2011). The Republic of the Philippines Iloilo City Government: The
Premier City by 2015. Retrieved from
http://www.iloilocity.gov.ph/aboutiloilocity.php]
As of January 2010, there are about 8,851 properly approved
businesses issued with corresponding business permits by the City
Government, while in the first quarter of 2011 there were already
7,074 approved business establishments with due issuance of
business permits.[footnoteRef:2] The city has 54 universal, 12
commercial, 10 thrift, 2 rural, 11 savings and 2 development banks
or a total of 91 banks which included branch offices in the
different districts. There are 2, 729 businesses registered at the
Department of Trade & Industry (DTI) with a total investment of
Php 747, 238, 728 as of 2009. [2: City Planning & Development
Office, Espejo A. , Celiz J., Wendam M., et al. (2011). We are open
for Business: A Briefer for Investors, A Guide for Economic
Ventures. Retrieved from
http://iloilocity.gov.ph/downloads/investmentguide.pdf]
