Mr. Roel Z. Castro, President and CEO of Iloilo City's distribution utility, shared his invaluable insights as one of the key reactors in the Strategic Planning Workshop for the Metro Iloilo-Guimaras Economic Development Council (MIGEDC), held at District 21 Hotel in Iloilo City.
Castro emphasized the pivotal role of an efficient power infrastructure in driving industrial growth in Iloilo City. "If there's one thing that guided our presence in Iloilo City, it's ensuring a robust and efficient power system. This is essential for reducing rates and preparing for anticipated growth in both the service and industry sectors," he stated.
Highlighting the entry of MORE Power's sister company International Container Terminal Services (ICTSI), Castro pointed out the importance of investment attraction. "Our sister company, ICTSI, has taken over operations at the international port, attracting international shipping lines to Iloilo City. This prompts us to ask, what is it about Iloilo City that captures attention? It's a testament to the investment and development potential here," he remarked.
Drawing from the National Economic and Development Authority (NEDA) report, Castro emphasized the current economic landscape of Region 6. "Services accounted for 61% of the 2022 Gross Regional Domestic Product (GRDP), followed by Industry at 21.5%, and Agriculture at 17.5%," he noted.
Castro provocatively questioned the traditional path to prosperity, noting the need for a true agricultural revolution and industrial boom in Region 6. He challenged workshop participants to ponder how to further improve and achieve sustainable agricultural and industrial growth.
Providing guidance for the Strategic Planning of MIGEDC, Mr. Castro suggested a focus on industrial development anchored on four pillars: agricultural endowment, advanced services sector, evolving technology, and green development.
However, Castro cautioned that despite the region's abundant endowments, success hinges on a collective mindset shared towards a common goal for MIGEDC. "It's the collective mindset," he asserted.
The insights shared by Castro stress the urgency and importance of strategic industrial development in propelling Metro Iloilo-Guimaras towards sustainable economic growth and prosperity.