Because it has rejected the color-coding scheme on vehicles, the city has attracted distribution companies and fastfood commissaries.
"Like Singapore, Marikina is small. The city does not have a lot of agricultural lands, and our remaining undeveloped properties are not big, just pockets," said Mayor Lourdes Carlos-Fernando. "Industrialization was the key to Singapores success. By the mid-1970s, Singapore promoted its industrial and manufacturing sector by providing low-cost labor and low to middle level technology. Marikina has been following that model."
The citys employment rate currently stands at 78.8%.
The city government is currently negotiating with Fortune Tobacco Co., the citys biggest taxpayer and employer, to put up a university near its factory. An SM mall is scheduled to open next year near the newly developed Riverbanks Mall by the Pasig River. Metropolitan Bank and Trust Co. will begin construction of a residential building along the main highway which connects Marikina to Antipolo City.
Marikinas efforts to attract investors have not gone unnoticed. Based on a 2002 nationwide survey of 34 cities conducted by the Asian Institute of Management for the Department of Trade and Industry, Marikina had the fifth lowest cost of doing business and had the eighth most dynamic local economy. It was the tenth most competitive city in the overall ranking.
The city will also spend P250 million to improve the drainage and the sidewalks. So far, the city is the only one in the country to provide a bicycle lane that leads to the church and the market from different locations in the city.
To make it more business friendly, the city has received a $43,000 infrastructure funding from the Singaporean government.
"We are sponsoring caravans to showcase the best products of the city and to encourage the development of industries aligned to shoe making," said Fernando. At the top of Marikinas best products are its people and the clear vision of its city managers.