RP's economic managers assure continuing major investments in Western Visayas

Members of the country's economic team looked forward to making this region more competitive by investing on major infrastructure projects.

This was made apparent during the regional economic briefing attended by representatives of the business community, academe, local government units, national government agencies and other stakeholders at the Iloilo Business Hotel Monday.

Finance Secretary Margarito Teves reiterated that with the big surplus the government incurred in 2006 as a result of the efficient collection of the Expanded Value Added Tax (EVAT) and other fiscal reforms, some P22 billion would be earmarked for infrastructure projects.

Budget Secretary Rolando Andaya, for his part, announced that they were carefully considering a number of proposed infrastructure projects for Western Visayas.

At present, this region has ongoing projects worth P17.2 billion. These include the construction of two airports with international standards - the Northern Negros Geothermal Project (NNGP), Bago River Irrigation Project and the Iloilo Flood Control Project.

Economic and Development Authority OIC Regional Director Arturo Valero noted that Western Visayas is a significant contributor in sustaining the country's economic momentum this year.

He expressed hopes that with the power supply relief brought about by the 40-49 mw capacity of the NNGP and the positive performance of the region's agriculture sector, Western Visayas will remain a major player as far as enhancing and sustaining the country's economy are concerned. (PNA)