Vol. XXI, No. 239 [ BusinessWorld Online ]
Monday, July 7, 2008 | MANILA, PHILIPPINES
THE CITY of Mandaluyong expects P8 billion in new investments by yearend, particularly in infrastructure and information technology (IT) sectors.
Among these investments are two hotels and six IT towers in the Mandaluyong Cybergate Complex, Mayor Benjamin C. Abalos, Jr. said in an interview late last week. "These are up for development, and we expect these projects to further strengthen Mandaluyong City’s image as a viable investment site," he said.
These two hotels are to be developed by Robinson’s Land Corporation and property firm Lancaster, respectively.
Mr. Abalos declined to name the IT investors, but said his city is eyeing more investments from Chinese and American businessmen.
Mandaluyong aims to be included in the Asian Institute of Management’s (AIM) list of the country’s most competitive cities.
Last week, AIM said 25 out of 90 cities it surveyed had emerged as competitive under its Philippine Cities Competitiveness Ranking Project 2007.
Indicators used were: cost of doing business, dynamism of local economy, human resources and training, infrastructure, responsiveness of local governments to business needs, as well as quality of life.
For the metro category, Davao, Lapu-Lapu, Makati, Manila, Marikina, and Quezon Cities made it to the list. Mid-sized cities Cabanatuan, General Santos, Lucena, Olongapo, San Pablo, Tagum and Tarlac were also in the list; while Bayawan, Calapan, Calbayog, Dagupan, Dipolog, Laoag, San Fernando, Malaybalay, Naga, Surigao, Tagbilaran, and Tuguegarao were named most competitive small cities. — B. S. Sto. Domingo
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