Key officials from Puerto Princesa, Palawan led by its Vice-Mayor Nancy Socrates and City Councilors Henry Gadiano and Roy Ventura paid a courtesy visit to City Mayor John Geesnell Yap to benchmark on the City’s Investment and Promotions practices.
Tagbilaran City has been working on its economic outlook recently. Puerto Princesa which is also a USAID-CDI assisted city gears togather important economic practices from Tagbilaran with the hope of replicating these principles back home.
Tagbilaran City gave out a teaching opportunity when it comes to economic measures.
With the technical expertise handed out by the USAID-SURGE, Tagbilaran City has been working out to improve its indicators to strengthen its economic well-being. In fact, key personnel from the City Treasurer, City Accounting and City Budget attended a week-long training on Public Financial Management in Manila last year. Then just recently, utilizing the financial grant from the Department of Trade and Industry (DTI), the city had its Rapid Economic Appraisal (REA) under Miriam Bacalso last February. The one-day assessment convened Tagbilaran City’s resource persons and business owners to appraise its economic landscape.
Local and Regional Economic Development (LRED) is an instrument for analysis which could assess the economic situation of an area in all crucial aspects. It is a tool to identify and prioritize interventions to address the real issues.
Used by many developed countries, LRED is an effective instrument for getting local stakeholders into a structured and systematic and practical dialogue with the ultimate purpose of improving their economic situation.
It is a quick way to determine whether the local economy is getting closer or farther to their development plans. For this economic intervention, enumerators were deployed to conduct a survey among the City’s business establishments.
Validation of the results, growth action planning and implementation of the action plans and evaluation of the results were finished.
Three important economic principles stood out from the survey which would be addressed by three important measures, the amendment of the Investment and Incentives Code, Improvement of Economic Governance and Human Resources Development and Labor Standards Compliance.
Yap believes that a clear understanding of the needs of the local businesses will assist the City Government to develop strategies towards competitiveness by launching doable interventions and market-oriented investments.
The City Mayor said that it can also organize collective actions to source out opportunities to obtain inclusive growth and with the technical assistance from USAID-SURGE, the REA will be incorporated in the Final Economic Development Plan which is expected to be finalized next year.
Further, the City Investment Council was reconvened to address the clamor for incentives of the incoming investors in Tagbilaran.Local Economic and Investment Officer Bebiano Inting discussed these undertakings to the Puerto Princesa contingent. The group also visited various offices of the City Government to benchmark on how Tagbilaran conduct its day-to-day transactions.