Makati targets more IT companies with incentive package

Makati City Mayor Abigail Binay said on Monday that her administration will focus on growing information technology (IT) businesses by providing a competitive environment, tax breaks and assistance with business registration. businesses to startups.

“Given our investment in infrastructure, I hope that e-commerce and software development companies will consider starting, expanding or relocating their operations to Makati, as we offer many advantages for businesses and startups,” Binay said at the recent members meeting. of the Makati Business Development Council (MBDC).

Binay said Makati’s investments in infrastructure, especially the Makati Metro, will attract more investors to the city as efficient public transportation provides better productivity and profitability for workers and businesses.

“Makati is in the initial stages of becoming a smart city, and we need the help of IT companies to create a pool of resources so that we can create a smarter workforce, which is necessary to keep a ‘smart’ city,” she said.

The mayor also said she envisions Makati as the nation’s version of Silicon Valley, a global hub for tech innovation.

Currently, about 40 IT buildings in Makati are registered with the Philippine Economic Zone Authority.

Earlier this year, Makati was chosen as a pilot city for the Resiliency Innovation Sustainability and Entrepreneurship (RISE) Challenge, a government, university and private sector incubator program that offers an equity-free grant of P500,000 and 12 weeks entrepreneurship training to eight IT startups.

According to Binay, IT startups Digest Ph, Empath, FilPass, Fitscovery, Kwik.insure, Pic-A-Talk, Project Fort and Synthillate will have the opportunity to present their projects to qualified investors on August 9th.

“As engines of growth, local governments should provide access to finance to business owners and startups, as helping them will not only boost the local economy but also the national economy,” she said. declared.

Earlier in the meeting, Binay also inducted four top business leaders into the MBDC, namely Rogelio Singson, former Secretary of Public Works and Highways and President of the Management Association of the Philippines; Calixto Chikiamco, President of the Foundation for Economic Freedom; Frank Thiel, President of the American Chamber of Commerce in the Philippines; and Shinichiro Shimada, President of the Japanese Chamber of Commerce and Industry in the Philippines.

Other board members are George Barcelon, president of the Philippine Chamber of Commerce and Industry; Edgar Chua, president of the Makati Business Club; Michael Arcatomy Guarin, President of the Financial Executives Institute of the Philippines; Victor Andres Manhit, Managing Director and Managing Director of Philippine Stratbase Consultancy, Inc.; Sergio Ortiz-Luis Jr.,

President of the Employers’ Confederation of the Philippines; Marianito Roque, former Secretary of Labor and President of Workplace Compliance and Solutions Plus, Inc.; and Hyun Chong Um, President of the Korean Chamber of Commerce Philippines, Inc.

Last month, Mayor Binay reconvened the MBDC to provide valuable insight and help the city develop sustainable plans.

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