Makati to focus on growing IT hubs | Inquirer Business

Makati to focus on growing IT hubs

05:27 PM August 01, 2022
makati subway

Makati Mayor Abby Binay talks about the route of the planned Makati Subway project. —EARVIN PERIAS

The Makati City government intends to focus on growing information technology (IT) firms in the city  by providing a competitive environment, tax breaks, and business registration assistance to startups, Makati Mayor Abby Binay said.
“Considering our investment in infrastructure, I hope e-commerce and software development companies would consider setting up, expanding, or relocating their businesses to Makati since we provide a lot of benefits to companies and startups,” a statement quoted Binay as saying during the recent first regular members’ meeting of the Makati Business Development Council (MBDC).
Binay said the city’s investments in infrastructure, particularly the Makati Subway, would likely bring more investors to the city since an efficient mass transit would provide provides better productivity and profitability among workers and businesses.
“Makati is at the early stage of becoming a smart city, and we need the help of IT companies in creating a resource pool so that we can create a smarter workforce, which is necessary to keep a city ‘smart’,” she said.
The mayor also noted that she envisions Makati to be the country’s homegrown version of Silicon Valley – a global hub for technological innovation.
Currently, about 40 IT buildings in Makati are registered under the Philippine Economic Zone Authority.
Earlier this year, the city was chosen as the pilot city for the Resiliency Innovation Sustainability and Entrepreneurship (RISE) Challenge, an incubator program of the government, academe, and the private sector that offers a P500,000 equity-free grant and 12-week entrepreneurship training to eight IT startups.
According to the mayor, IT startups Digest Ph, Empath, FilPass, Fitscovery, Kwik.insure, Pic-A-Talk, Project Fort, and Synthillate will be given a chance to pitch their ventures to qualified investors on Aug, 9, 2022.
“As engines of growth, local governments should provide business owners and startups access to financing because helping them will stimulate not only the local but also the national economy,” she added.
Earlier in the meeting, Binay Mayor Abby inducted four top business leaders into the MBDC, namely Rogelio Singson, former Public Works and Highways Secretary 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 of the Philippines, and Shinichiro Shimada, president of The Japanese Chamber of Commerce and Industry of the Philippines.
The other council members are George Barcelon, president of the Philippine Chamber of Commerce and Industry; Edgar Chua, chair of the Makati Business Club; Michael Arcatomy Guarin, president of the Financial Executives Institute of the Philippines; Victor Andres Manhit, chief executive officer and managing director of the Philippine Stratbase Consultancy, Inc.; Sergio Ortiz-Luis Jr., president of the Employers Confederation of the Philippines; Marianito Roque, former Labor Secretary and president of Workplace Compliance and Solutions Plus Inc., and Hyun Chong Um, president of the Korean Chamber of Commerce Philippines Inc.
Last month, the mayor reconvened the MBDC to provide valuable insights and help the city develop sustainable plans.

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TAGS: Abby Binay, financing, IT, Makati City, tax breaks
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