**Stable Power Supply Boosts Iloilo City’s Appeal for IT-BPM Investments**
ILOILO CITY:
Iloilo City’s consistent power supply has positioned it as a favored location for investors, especially in the realm of the Information Technology and Business Process Management (IT-BPM) sector. This assertion was made by Dr. Winston Padojinog, the president of the University of Asia and the Pacific (UA and P), in a press conference on Thursday.
The Philippines News Agency reported Dr. Padojinog’s insights, which he shared during the sidelines of a business conference in the city. His discussion revolved around the theme ‘Economic Impact of a Reliable Utility Provider in Times of Uncertainty.’ He highlighted the pivotal role of the More Electric and Power Corporation (MORE Power) in the 2nd “What’s Up Western Visayas,” an event under the umbrella of Iloilo Business Week organized by the Philippine Chamber of Commerce and Industry (PCCI) – Iloilo chapter.
But the power supply isn’t the sole factor drawing businesses to Iloilo City. Dr. Padojinog elaborated that local educational institutions are consistently producing high-quality graduates who find employment in business process outsourcing firms (BPOs). Coupled with this is the presence of dependable internet providers and Iloilo City’s geographically strategic position in the heart of the Philippines. These elements together fuel the growth of the IT-BPM sector. “The ripple effect of this growth will be witnessed in other sectors such as housing, food, retail, transport, and subsequently, an increased demand for power,” Dr. Padojinog said.
Former Senate President Franklin Drilon echoed these sentiments, reflecting on a time when BPOs would overlook Iloilo City due to its inconsistent power supply. “There was a period when BPOs bypassed us because of our power and distribution shortcomings,” Drilon remarked. “Yet, in acknowledging MORE Power’s contributions, it’s evident they have significantly bettered the investment atmosphere in Iloilo. Their stable and efficient distribution system has made the city enticing for BPOs,” he added. Drilon’s participation in the business conference was marked by his talk on the “Economic Landscape and Investment Opportunities in Iloilo City.”
Further data from the Iloilo Federation of Information Technology (I-FIT) reveals the presence of 103 BPOs across the city and province of Iloilo. Among these, 20 prominent firms operate within the city, providing employment to over 41,000 locals.
MORE Power, which began its operations in February 2020 after succeeding the Panay Electric Company (PECO), currently serves upwards of 93,000 accounts. Noteworthy findings from a comprehensive study, spearheaded by the UA and P this year, indicate that the growth in MORE Power’s customer base has enriched Iloilo City’s Gross City Domestic Product (GCDP) by an average of PHP4.99 billion annually. This accounts for roughly 3.8% of the city’s complete economy. From 2020 to 2022, the power company has also been instrumental in generating 6,693 direct and indirect jobs, leading to a decrease in the city’s unemployment by 10.6% annually. This has, in turn, infused PHP 1.75 billion into households over the same timeframe. Consumers have also reaped the benefits of decreased system losses, resulting in surplus income and an additional PHP1.01 million poured into consumption spending. In 2022 alone, MORE Power contributed to about 19% of Iloilo City’s economic expansion.