Thursday, September 09, 2010
   
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Investment Potential

The 12, 747.35 hectares total land area of Laoag City provides an opportunity for expansion with its historic scenic tourist spots, availability of internationally competitive accommodations and facilities and the presence of supportive populace.

Situated at 488 kms. from Metro Manila, Laoag City's strategic location has helped it to become one of the country's viable site for business opportunities, trading and investments, for some have prospered.

Yet with its distance from the Metropolis, Laoag City enjoys the same first rate infrastructure facilities such as road network and bridges and telecommunications as well, thus, more than adequate to serve the needs of its burgeoning business activities. The availability of big tracks of commercial spaces brought about by the Zoning Ordinance is imminent with the proposed construction of a commercial complex at the heart of the city and the proposed upgrading of the City Hospital.

Another factor that makes Laoag City a preferred destination for investors is its wealth of human capital. Laoag has industrious, resilient, patient and hard-working economically active population.

Laoag City undoubtedly is the Northern Gateway of the Philippines because of the presence of a functional Laoag International Airport that caters to domestic flights and international flights to and from nearby countries opening doors for tourism enhancement opportunities as well as business/industrial development opportunities. Laoag pride itself of having the northernmost, strategically located international airport in the county. Based on tourist arrival statistics, business dynamics therefore would dictate that this opportunity could double as commercialization and industrialization advantage. Tourism related projects can be undertaken and will flourish.

At present, most industries in the city are small-scale consisting of food processing factories, rice mills, jewelry making, hollow blocks factories and metal crafts. Telecommunications is also growing with the emergence of state -of-the-art communication equipment and utilities.

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