The Department of Trade and Industry or DTI has named Vigan the Most Competitive Component City in the Ilocos region. This yearly competiveness ranking of Philippine cities, municipalities, was developed by the National Competitiveness Council through the Regional Competitiveness Committees (RCCs) with the help of the United States Agency for International Development .
The ranking is based on three pillars: economic dynamism, government efficiency and infrastructure. The awards are classified according to highly urbanized, component cities, all cities, 1st and 2nd class municipalities, 3rd to 6th class municipalities, all municipalities and all provinces. To qualify for Most Competitive Province, the combined population of all participating LGUs under the province should constitute at least 60 percent of total provincial population.
This index ranking can be used as a diagnostic tool by local government officials in the competitiveness of their city or municipality and identify areas for improvement. It can give insight for policy making, development, and formulation of investment promotion strategies.
Vigan City Mayor Medina said that the recognition given will serve as an inspiration to the incoming city government officials to strengthen business and investment opportunities for the sustained the socio-economic development of the city and her residents.