City’s investment summit lures parking facility developers

The city government of Baguio hopes to jumpstart the realization of its “Growth Node Development Plan” with several institutions submitting their intentions to invest in the identified priority projects of the Baguio.

Mayor Benjamin B. Magalong is hopeful that projects will kickstart this year after he was informed that nine out of 22 investment companies who attended the city’s first Investment Summit held December last year are engaged in parking and mobility development while two companies are into transport system development.

The city’s growth node aims to expand economic activities in six strategic locations around the city with the objective of decongesting the central business district.

City managers identified the specified economic activities will focus on transport-oriented development, urban agriculture, arts and crafts, parks, heritage and landmark restoration, ecotourism, and business incubation including the development and operation of the Loakan airport.

Other investors are interested in venturing into renewable energy; water and energy resource development; architectural consultancy and services, among others.

The two-day investment summit was conducted by the city government of Baguio led by the City Budget Office on December 12 to 13 at the Baguio Convention Center to showcase priority development areas in the city in an aim to sustain economic gains.

Developmental needs of the city were presented and discussed with possible investors particularly on parking facilities, low-cost housing projects, cold storage facility for a modern slaughterhouse as well as the city’s smart mobility plan. – JMPS