More businesses moving to BGC – Cayetano

MANILA, Philippines - Bonifacio Global City, the central business district of Taguig City, is poised to emerge as the country’s premier business hub as more and more businesses have chosen to relocate to BGC, Mayor Lani Cayetano said yesterday.

She welcomed the influx, which she said is an “undeniable sign” of a growing consensus that investor confidence is at a high in Taguig.

The Intellectual Property Office and the Philippine Chamber of Commerce and Industries have moved to BGC.

Some national agencies such as the Supreme Court, the Philippine Stock Exchange, the Securities and Exchange Commission and the Insurance Commission have also bared plans to also relocate their offices to BGC, the city government said.

Cayetano said investor confidence is buoyed by the city’s business model of no corruption, lower taxes, better business policies, and no “number coding” for vehicles.

Some of the top businesses that have relocated to Taguig include Coca-Cola Bottlers Philippines, Inc., Coca-Cola Foundation Philippines, Inc. and Eastwest Bank.

The BGC is also home to Smartmatic Philippines, Inc.; Manila Water Co., Inc.; Chinatrust Commercial Bank Corp.; General Electric Philippines, Inc.; Hewlett-Packard AP Ltd.-Phils.; Sony Philippines, Inc.; Sun Life Corp; and the Hong Kong and Shanghai Banking Corp. Limited.

Law firms like Abello Concepcion Regala & Cruz (ACCRA Law) and Villaraza Cruz Marcelo & Angangco (CVC Law) are now located in Taguig.

Schools such as University of the Philippines and De La Salle University will soon open campuses at the BGC, the city government said.

Earlier, the World Bank recognized Taguig as one of the best places in the country in which to do business. In the institution’s most recent Ease of Doing Business study, Taguig ranked first among the cities in Metro Manila with the easiest and least number of processes for putting up a business.