The rich list: Lo­cal of­fi­cials ad­mit in­clu­sive­ness is the chal­lenge

Business World - - Thenation - A. Car­illo Car­mencita

OF­FI­CIALS of prov­inces and cities named among the top 10 rich­est in the coun­try in terms of as­sets have cheered their re­spec­tive rank­ings, but at the same time ac­knowl­edged that the chal­lenge re­mains on how to make wealth and gov­ern­ment ser­vices more in­clu­sive. “(It) says a lot about the promis­ing fu­ture of cities out­side Lu­zon, es­pe­cially the ones from Min­danao,” said Mayor Sara Duterte-Car­pio of Davao City, which placed 9th in the Com­mis­sion on Au­dit’s (CoA) 2017 Fi­nan­cial Re­port re­leased ear­lier this week. The CoA list for cities was dom­i­nated by those in the Na­tional Cap­i­tal Re­gion, with seven in the top ten while the two oth­ers are Cebu (4th) and Calamba (10th). The an­nual re­port cov­ers the fi­nan­cial con­di­tion and op­er­a­tions of the gov­ern­ment, its sub­di­vi­sions, agen­cies and in­stru­men­tal­i­ties, in­clud­ing gov­ern­ment-owned and con­trolled cor­po­ra­tions and non-gov­ern­men­tal en­ti­ties sub­ject to CoA au­dit. “De­spite this recog­ni­tion, we are try­ing our hard­est to en­sure that we iden­tify and reach those who are poor and take them out of poverty. Only then we can truly be happy about be­ing a rich city,” Ms. Duterte-Car­pio said. — >> See full story on

COMPOSTELA VAL­LEY ranked as the 2nd rich­est prov­ince, af­ter Cebu, which has been at the top spot in the last four years.

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