Ormoc remains richest city in Eastern Visayas
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Ormoc City in Southern Leyte has sustained its top rank as the wealthiest urban center from among the cities of Eastern Visayas as of the end of 2022, according to the annual report recently released by the Commission on Audit (COA).
With its reported P7.47 billion assets, Ormoc City leads among the six other cities in the region.
Ormoc Rep. Richard Gomez highlighted the joint efforts of the local and city government, barangay units, businesses and all local residents for the city’s achievement.
“Magandang balita ito para sa mga Ormocanons. Dahil sa pagkakaisa, naiangat ng city government ang ekonomiya ng Ormoc City para mapabilang sa isa sa mga mayayamang siyudad hindi lamang sa Visayas kundi pati sa buong bansa,” Gomez said.
City Mayor Lucy Torres-Gomez credited the city’s financial stability to the leadership of her husband, Rep. Richard Gomez who served as city mayor for two terms before he moved up to the House of Representatives in 2022, and the performance of local government employees and the city’s village officials – who have been the backbone of the city government’s excellent public service.
“Our success today would not have been so, without the efficient, well-managed LGU that I took over from Mayor Richard. Indeed, it is easier to reach for the skies when standing on someone’s strong shoulders. His task was not easy, building from almost ground zero, but he fought bravely and was rewarded,” Torres-Gomez said during her State of the City Address on October 18.
She also said: “This is a chance for us to pause, just for a short while, to look back and see how far we have come from last year. It is a time for us to check on our dreams and aspirations, to see what we have done so far to get to where we want to go,” she also said.
The COA report showed Ormoc City’s assets increased by 9.37 percent to P7.47 billion in 2022 from P6.83 billion in 2021. The assets consist of P2.37 billion cash, P222.01 million receivables, P180.39 million inventories, P99.01 million prepayments and deferred charges, P8.51 million investment property, P4.58 billion properties, plant, and equipment; P3.36 million biological assets, and P.41 million intangible assets.
Ormoc City is a first-class independent component city that is the center of economic activities in the western part of Leyte. It is known for Lake Danao, which supplies water to many parts of Leyte, including Tacloban City, and its sweet pineapple.
It also has a 232-megawatt geothermal power plant, the largest in the world under one roof. Its generated power benefits Leyte Island and parts of Luzon, the Visayas, and Mindanao.
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