Makati has 'most dynamic economy' among big RP cities - AIM study

MAKATI, Philippines – Makati City has the most dynamic local economy among 20 metro-sized Philippine cities, according to the recently concluded Philippine Cities Ranking Project (PCCRP) 2007. The study only show that Makati has remained competitive, even posting a "substantial growth" despite the economic turmoil haunting the country today, according to a statement issued on Thursday by Makati Mayor Jejomar Binay. The PCCRP is a biennial independent study conducted nationwide by the Asian Institute of Management (AIM). It aims to rank cities on the basis of economic performance and responsive to business enterprise. The study aims to identify the best cities in which to put up a business and live. Binay also boasted of Makati’s accomplishments, despite its relatively small size, saying it has reaped many citations and recognitions from several local and international organizations over the years. Makati has a total area of 27.36 square kilometers, or just about 4.3 percent of total area of Metro Manila. The study classified 90 Philippine cities into metro, mid-size, and small. The cities are then scored using six categories: • cost of doing business • dynamism of local economy • human resource and training • infrastructure • local government unit responsiveness • quality of life Among the metro-sized cities, in the dynamism of local economy ranking, Makati was followed by Quezon City in second, with Manila and Davao City tied in third. But in the overall ranking of metro cities, Davao City topped the list, followed by Quezon City in second and Makati in third. Makati also ranked second in terms of quality of life, next only to Mandaluyong, with Taguig City in third. Citing the study, Binay noted that provincial cities have also been doing in competing with the major metro cities. "We believe that as more localities become veritable ‘engines of growth,’ the whole country will attain faster economic growth and social progress that would benefit more Filipinos," Binay said. Binay added that the study gives a challenge to other Local government units to be more competitive and be more aggressive in their efforts to improve the quality of service and life in their respective localities. In a statement, AIM said the program aims to "promote national competitiveness by encouraging healthy competition among highly urbanized and emerging cities, emphasizing the crucial roles of small and medium enterprises as the backbone of local development." The PCCRP also seeks to "cultivate competitive industries, promote healthy communities and maximize the economic potentials of the cities." The PCCRP 2007 was done in collaboration with the German Technical Cooperation (GTZ), the International Finance Corporation (IFC), the International Labor Organization (ILO), SM Investments Inc., and Petron Corp. - GMANews.TV