Financial regulators and the country’s top corporations have found their niche at Bonifacio Global City (BGC), Taguig City.
Financial regulators such as the Philippine Stock Exchange (PSE), the Securities and Exchange Commission (SEC), and the Insurance Commission (IC) have expressed plans to move in as they see BGC as the best place for their headquarters.
Even the Intellectual Property Office (IPO) and the Philippine Chamber of Commerce Inc. (PCCI) found BGC as their homes after moving to new addresses within the burgeoning business district.
Taguig Mayor Lani Cayetano welcomed the new partners of the city, saying their decision to relocate to BGC – and that of hundreds of corporations before them – is an undeniable sign of a growing consensus that investor confidence is at a high in Taguig.
“The plan of the country’s top business regulators to follow suit and relocate to Taguig is an affirmative vote of confidence to a fast-rising, high-flying new premier financial center in the country – that is BGC,” Cayetano said.
and lt;P and gt;She reiterated the city’s business model, which rests on the following cornerstones: No Corruption, Lower Taxes, Better Services and Business Policies, and No Number Coding.
Here in Taguig, we always get a vote of confidence from businesses, whom we consider partners in development. We treat them with respect, the highest form of which is to show them that the taxes they paid really go to the people of Taguig, the lady mayor said.
and lt;P and gt;Several top businesses have already relocated to Taguig, including Coca-Cola Bottlers Philippines, Inc., its foundation Coca-Cola Foundation Philippines, Inc., and Eastwest Bank.
BGC is also now home to big companies like Smartmatic Philippines, Inc.; Manila Water Company, Inc.; Chinatrust Commercial Bank Corp.; General Electric Philippines, Inc.; Hewlett-Packard AP LTD- Phil.; Sony Philippines, Inc.; Sun Life Corp.; and the Hongkong and Shanghai Banking Corp. Limited.
Even prominent law firms like Abello Concepcion Regala and Cruz (ACCRA Law) and Villaraza Cruz Marcelo and Angangco (CVC Law) are now found in Taguig.
Not only top corporations but leading academic institutions such as the University of the Philippines and the De La Salle University will also open separate campuses in BGC. Also, the Supreme Court is looking at BGC as its next home.
Earlier, the World Bank recognized Taguig as one of the best places in the country to do business in. In the institution’s most recent Ease of Doing Business study, Taguig ranked first among the cities in Metro Manila to have the easiest and least number of processes of putting up a business, besting richer and older cities. (PNA)