P111-B Investments Poured in Mandaluyong
MANILA, Philippines --- A total of P111.45 billion worth of investments from 35 giant companies poured in the city since 2010, a clear sign of investor confidence in the local city government.
In his State of the City Address (SOCA) delivered before hundreds of employees, officials and guests at the city government's gymnasium, Mandaluyong City Mayor Benhur Abalos said that despite the size of the city, a total of 35 giant companies invested in the city which resulted in job generation.
He said that 12 prime locators ranging from land developers, call centers, telecommunications and multinational companies poured a total of P20 billion worth of investments in the city for 2012 alone.
"Despite its (Mandaluyong) size, being the second smallest city in the metropolis, Mandaluyong City is experiencing waves of development and continues to gain big in revenues. The phenomenal growth is attributed to the confidence of the business sector and of course, the support our people in the local leadership," Abalos said during his speech.
Abalos, however, stressed that progress is not just defined by the hefty sum in the city's coffers. More importantly, he said, it is measured by the basic services rendered to uplift the lives of the common people.
Aside from investments, he also narrated the many programs he initiated for education, health, environment and peace and order. …