Baguio identifies areas for investments

By Liza Agoot

August 24, 2022, 7:20 pm

<p>Baguio City Hall. <em>(PNA file photo)</em></p>

Baguio City Hall. (PNA file photo)

BAGUIO CITY – The local government is inviting investors to check out 12 areas of investment that they can infuse capital into at this summer resort capital.

“The doors are open for investors who are into green manufacturing specifically those involved in waste minimization, clean technology, pollution and export, creative and tourism-related establishments, market development and housing,” city budget officer Leticia Clemente said on Wednesday.

Clemente said the city is pushing for an ecologically sound liquid and solid waste management enterprise primarily focused on the upgrade and expansion of the Baguio sewage treatment plant and waste to energy project.

“The activities are part of the 12 priority investment areas identified by the local government where capital can be infused into and or where investors can partner with the local government unit,” she added.

The other areas of investment are creative industries particularly in the digital transformation center, Smart City mobility system, and information technology-enabled services.

The city is also enticing investors involved in tourism-oriented and related establishments such as parks development, eco-park and multi-level greenhouse at Botanical Garden, green water project and sidewalk rehabilitation and convention centers, and cultural preservation centers to partner with the local government.

She said the city also wants to implement pioneering strategic projects such as market development and slaughterhouse modernization that require a partnership with the private sector.

In terms of mass housing, Clemente said the city government is eyeing other low-cost projects aside from the ongoing Luna Terraces housing project in Barangay Irisan.

On water and energy resources development, she said the local government is inclined to start a waste-to-energy project, rehabilitate the city-owned Asin mini-hydropower plants, and revive the bulk water supply and distribution project.

The local government also wants to venture into research and development with the establishment of centers of excellence, invocation centers, fabrication laboratories, and business incubation hubs and co-working spaces.

For mass transportation and facilities, the local government is pushing for an intermodal transport terminal, multi-level parking, cable car, elevated monorail, and a traffic or parking system.

The city is also eyeing a private-public partnership for the market redevelopment.

Clemente said they are also looking for a partner who will help in the preservation and development of historical and heritage sites such as the Dominican Heritage Hill and Nature Park conservation project.

She said the city will employ various financing schemes to be able to implement the identified priority development projects that will trigger the city’s progress and development.

The officer said available local government financing schemes include the regular local revenue, borrowing or bond floatation, foreign and local grants, capital income from the sale or use of assets, available funding resources of the local government, and cost-sharing with local and national government agencies. (PNA)