Mandaluyong investments triple in past six years

MANILA, Philippines - At least 13 giant companies, composed mostly of real estate developers, poured P42.25 billion in investments into Mandaluyong City last year, an increase of P29.5 billion or 325 percent over the period of six years.

Mayor Benjamin Abalos Jr. said the “Year of the Tiger” is a promising year for the city, which was dubbed the Tiger City by the Asian Institute of Managament and Department of Trade and Industry in 2003, as more and more investors have expressed interest in pouring their capital in Mandaluyong City in 2010.

Abalos said the billions in investments was a result of improved business registration systems and business-friendly city ordinances.

“Ultimately, this is a reflection of the trust and confidence of investors to the leadership and governance of the city government that in effect created more job opportunities for Mandaluyong City constituents,” he said in his State of the City Address (SOCA) at the packed City Hall gymnasium in Barangay Barangka.

Despite the global recession and tropical storm Ondoy, Mandaluyong City scored another yet victory when it amassed a total income of P1,899,101.096.29 for 2009, up by P222 million or 13.27 percent from 2008.

Abalos said a big chunk of the city’s earnings went to the three-phase Mandaluyong Elementary School main academic building, which cost P200 million; multi-purpose halls, health centers, covered courts and other infrastructure projects like the road widening in Barangay Mauway and the purchase of lots to house thousands of displaced families.

“This administration puts its best foot forward to keep the productive capacity of our economy intact so that it can respond in a timely fashion to the needs and demands of our people,” said Abalos, the first Metro Manila mayor to be elected as president of the League of Cities of the Philippines (LCP).

“Needless to say, a steadily improving quality of life is essential for the recovery of the humanity of all our people,” he added.

The city government also purchased 10 brand new patrol cars and communication equipment costing P22 million for the use of the local police.

A cluster patrol vehicle was issued to every barangay for faster mobility to augment the local police capability in an intensified peace and order campaign, Abalos said.

As a result, the local police registered 98 percent crime solution efficiency and earning them a citation from the Eastern Police District (EPD) as one of the most peaceful area in eastern Metro Manila.

Abalos also created Oplan Lingap, in a bid to help resolve abuse of illegal drugs among the youths in the city.

“We are proud to state that we are one of the safest cities in the country but we are far from satisfied,” said Abalos. “And if we will continue driving down crime and drug abuse among the youth, our goal is to reach them earlier-before they end up in jail. And the reality is staying out of trouble starts with staying in school.”

Abalos said the city government can do more in the peace and order campaign, especially against illegal drugs, if the residents do their share by reporting crimes and drug pushers to the local police.

Because of the significant economic gains of Mandaluyong, the city government, with the cooperation of the private sector, managed to give employment to at least 23,839 individuals, he said.

And with the help of 28 sponsor companies, the city government raised P5,833,786 to fund its gift-giving projects for the poorest of the poor like the Pamaskong Handog.

Abalos thanked Rep. Neptali Gonzales, whom he described as his older brother, for pouring P600 million into the city to fund various infrastructure projects, community programs and scholarship grants.