Business Technology, Finance Technology & Information Technology
In the town of Ilocos Sur, local firms have increased by 64%.
CITY OF LAOAG – Many new enterprises have grown in Narvacan, Ilocos Sur, following the launch of a world-class farmer’s market, according to a verified report on economic data released by the local government on Tuesday.
According to the most recent records, 916 new businesses were registered in Narvacan in 2021, raising the overall number of firms in that year to 2,338 (up 64 percent from 1,422 business renewals in 2020).
Food and non-food stalls at the public market, as well as firms in the information technology, tourism, and agriculture sectors, were among the new businesses.
“The economic development in Narvacan resulted in greater capital investments and job prospects for the inhabitants,” said mayor-elect Pablito Sanidad Sr., vowing to carry on the legacy of outgoing mayor Luis “Chavit” Singson.
With its aggressive infrastructure development and modernization plans, Narvacan is one of the fastest-growing municipalities in the Ilocos Region despite the pandemic.
The local government entity released its groundbreaking digital “palengke” app in April, allowing residents to conduct cashless transactions.
Narvacan is home to the largest public market in the Ilocos region, thanks to a public-private cooperation program. Solar energy is also used to power the modern public market.
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