Mayor Abby Binay said that Makati City will soon become the Silicon Valley of the Philippines as the city government announced its plan to focus on growing IT firms.
Mayor Abby Binay said on Monday, Aug.1, that Makati City will soon become the Silicon Valley of the Philippines as the city government announced its plan to focus on growing information technology firms in the city by providing a competitive environment, tax breaks, and business registration assistance to startups.
“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 workforce which is necessary to keep a city ‘smart’,” she added. Makati was also chosen as the pilot city for the Resiliency Innovation Sustainability and Entrepreneurship 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 startups.
On June, 9, the MBDC convened for the first time since the Covid-19 pandemic started to strengthen its support for the city government’s long-term economic development strategy. Under the Binay’s leadership, the city has forged strategic partnerships with industry leaders through public-private partnerships to promote better connectivity, mobility, resilience, and sustainability in the city.
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