Mayor eyes growing IT firms in Makati to be next Silicon Valley

MAKATI Mayor Abby Binay said the city government intends to focus on growing information technology (IT) firms in Makati City by providing a competitive environment, tax breaks, and business registration assistance to start-ups.

“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 start-ups,” she said during the recent first regular members’ meeting of the Makati Business Development Council (MBDC).

Mayor Abby said the city’s investments in infrastructure, particularly the Makati Subway, would bring more investors to the city since an efficient mass transit 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 work force, 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, around 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 start-ups.

According to the mayor, IT startups Digest Ph, Empath, Filpass, Fitscovery, Kwik.insure, Pic-atalk, Project Fort, and Synthillate will be given a chance to pitch their ventures to qualified investors this August 9.

“As engines of growth, local governments should provide access to finance to business owners and start-ups because helping them will stimulate not only the local but also the national economy,” she added.

Earlier in the meeting, Mayor Abby also 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, chairman 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 Ortizluis 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.