Mayor Alfredo Abelardo Benitez is upbeat about Bacolod City’s economy pointing out that its growth rate is higher than the national average.
Benitez said Dr. Bernardo Villegas, University of Asia and the Pacific economics professor emeritus, reported that while the country’s gross domestic product (GDP) was at 6 percent, Bacolod’s was at 9.2 percent, the highest growth rate in the country.
Villegas was one of the speakers at the Metro Bacolod Chamber of Commerce and Industry forum on the economic prospects for the Negros Island Region in Bacolod City on Tuesday, Jan. 21.
The event focused on NIR’s economic prospects, opportunities in agribusiness and entrepreneurship, and investment potential in real estate and infrastructure development.
Benitez, in his speech at the forum, pointed out that Bacolod has been named the most business friendly city in the country “because of its open arms policy for businesses to come in”.
He also cited the numerous townships and businesses rising in Bacolod and the growing jobs available.
Benitez said in 2022 there were 13,000 job openings, 85,000 in 2023 and 122,000 in 2024 in Bacolod.
He also cited the increase in business permit applications and the stellar performance of real estate, which prices have been increasing.
The Bacolod City government has gone digital and strengthened institutions for swift and transparent services and sustained development, the mayor also said.
Negros Occidental Gov. Eugenio Jose Lacson, in his speech, said “As leaders, entrepreneurs, and stakeholders, we must act decisively and collaboratively to ensure that the Negros Island Region becomes a model not just of progress, but also of inclusivity. Let us embrace this new period with optimism,” he said.
“With approximately 4.3 million Negrenses, the establishment of the NIR, along with its own Regional Development Council and Regional Technical Working Team, will improve the efficiency of basic service delivery, accelerate economic growth, and drive social development,” he added.*