New investments in Taytay up 88%

MANILA, Philippines - More investors are going east of Metro Manila as the National Capital region appears to have been saturated, with at least a million business establishments sharing over a limited if not an already captured market.

Amid Metro Manila’s saturated business room, investors have been seen either relocating their shops or pouring capital outside the NCR, specifically in the bustling Taytay town (in Rizal province) at the outskirt of the metropolis.

In a three page document obtained from the Taytay Business Permits and Licensing Office, the town known as the garments capital of the country has become host to thousands of new businesses as reflected in their collection report indicating an increase ranging from 85 to 88 percent.

Eleno Tolentino, chief of the Taytay BPLO, attributed the influx of investments in their locality to what he described as “an investor-friendly local economic policy” that Mayor George Ricardo Gacula has been implementing for the last six years.

In a statement, Gacula said: “It was actually the initiative of the local government to seek a consultation with the investors themselves before we formulated a local economic policy. What we have today is a product of what the government needs and what the investors can actually offer without compromising the welfare of both parties”.

The local chief executive likewise attributed the economic boom to the completion of the new road links that connected their town to the rest of the Metro Manila cities and adjoining provinces. He said that C-6 for one has largely contributed to their economic surge even as he cited the support that their local government has been getting from the national government.

Records showed that for the last three years, Taytay municipal government has had significant increase in their collection from the business permits. In 2009, Taytay got P93.22 million, then jumped to P106 million in 2010. From January to October this year, Taytay has already racked up a total of P124 million.