ILOILO CITY, Iloilo, Philippines (PNA) — The business community here is looking forward to an upbeat economy despite apprehensions that the brunt of the financial crisis overseas might impact negatively in the country this year.

Iloilo Business Club (IBC) executive director Lea Lara said it is still too early to say what actually might happen to the country’s, and Iloilo’s economy, although somewhat dire prognostications were outlined by an economic expert during a recent IBC meeting. Still, she said, the club has “high expectations about a good turn for business this year in Iloilo.”

Lara said there is a lot to look forward to, particularly with regards to infrastructure development, including the completion of major infrastructure projects funded by both government and private sectors.

For instance, she said, more hotels are expected to open in the city within 2012, she said.

Likewise, Lara said, IBC members expect to see “significant projects” to be finished here towards yearend, including the ongoing development being undertaken by Megaworld Corporation at Mandurriao district.

In terms of social services, she said, Iloilo City “has its hands full with public investment in socialized housing that will provide homes to those displaced by big projects.”

Meanwhile, Lara noted that a challenge now faced by the city government is to prove that the increase it imposed on real property taxes is all worth it to taxpayers. “It (the city government) can show in the manner by which it delivers basic services,” she remarked.

Also, Lara said government should be more concerned about addressing the challenge of climate change.

Still and all, the IBC officer said, “Despite natural disasters occurring in the country, we continue to hope for the best in 2012.”