Capiz has been a victim of the dishing of make-believe dirts for years that it became a haven of frights and terror. People are stopped to visit the place because of the rumor that Capiz is the home of the mythical creatures, "Aswang".

Because of this terrifying and heart-dropping rumor, Roxas City now aimed to change the negative impression of Capiz as a home of aswang by recognizing it only as a myth and hopefully removing the stigma attached to the word by inaugurating Aswang Festival.

Every Octobers 29 and 30, a unique "Aswang Festival" is yearly celebrated featuring the parade of participants donning the most dreadful costumes such as "kapre", "wak-wak", and "tikbalang". After the parade of dreaded mythical creatures, it is followed by a trade fair of the famous Capiznon sea food products and other local delicacies.

Aswang Festival is a Halloween-like Fiesta as a prelude to All Souls Day and All Saints Day festivals. It was inaugurated and organized by the Dugo Capiznon, Inc. which aims to eclipse the aswang impression with the world-class quality of Capiz’ seafood products, and showcase Capiz as one of the country's top tourist destinations having its fine beaches and scenic landscapes. Also, through the trade exhibits, entrepreneurs of small businesses can promote local products to help uplift the economy of the province.