Prominent business organizations and stakeholder groups have rallied behind the redevelopment of Iloilo City’s two largest public markets – the Central and Terminal markets.
Spearheaded by the Iloilo City Government under Mayor Jerry P. Treñas, in collaboration with SM Prime Holdings, Inc. (SMPHI), the project promises to elevate the city’s economic and cultural landscape.
The Iloilo Economic Development Foundation (ILED) views this initiative as a cornerstone for the city’s growth.
According to Roel Z. Castro, President of ILED, the project will significantly enhance commercial infrastructure, create a more organized environment for vendors and shoppers, and boost Iloilo’s competitive edge.
Highlighting the city’s climb from rank 27 in 2015 to rank 5 in 2023 in the National Competitiveness Index, Castro emphasized that this redevelopment would sustain and accelerate Iloilo’s progress.
ILED further cited the Iloilo City Economic Development Council (ICEDC) 1st Quarter 2024 report which showed a 13 percent increase in tourism receipts, rising from ₱8.29 billion in 2023 to ₱9.4 billion in 2024, and high employment levels.
Engr. Terence Uygongco, Chairman of ILED, stressed the cultural impact, noting that modernized markets are integral to Iloilo’s culinary identity and its reputation as a gastronomic hub.
“A thriving public market is essential to any food culture. This redevelopment enhances Iloilo’s brand as a gastronomic destination. For example, Sandakan, Malaysia saw a major boost in tourism and job creation after a similar redevelopment. Iloilo is poised for comparable success,” Uygongco stressed.
The Philippine Chamber of Commerce and Industry – Iloilo Chapter (PCCI Iloilo) also expressed unwavering support for the modernization effort.
PCCI-Iloilo President Engr. Fulbert C. Woo lauded the initiative as a transformative investment that uplifts local micro and small enterprises, improves sanitation, and enhances customer experience.
While acknowledging potential short-term challenges during the infrastructure upgrade, Woo underscored the long-term economic and community benefits of these world-class facilities.
The POPA Agriculture Cooperative, representing local farmers and agri-food vendors, hailed the integration of the markets with the Local Food Terminal as a move to strengthen farm-to-market connections and support food security.
Its chairman Larry P. Nacionales expressed optimism that the project would empower small-scale vendors and reduce post-harvest losses, ensuring efficient and organized supply chains.
Meanwhile, the Iloilo Hotels, Restaurants, and Resorts Association (IHRRA) commended the redevelopment for its role in bolstering Iloilo City’s tourism and hospitality industries.
IHRRA President Happy Mapua Abenir underscored that the forthcoming markets as crucial sources of fresh produce for hotels, restaurants, and other food establishments.
The Iloilo Business Club (IBC) through its president Emil S. Diez, on its part, believes that the initiative will result in a more organized, accessible, and efficient marketplace that honors the rich food culture of the Ilonggos- known for their love of fresh, quality ingredients and vibrant culinary heritage.
“By modernizing these key public markets while preserving their cultural value, this project not only uplifts local vendors but also strengthens Iloilo’s identity as a hub of food, culture, and commerce, further driving inclusive economic growth in the city,” the club’s statement read.(GSTayona/Iloilo City PIO)
