Top financial regulators flock to Taguig

BGC fast becoming PHL’s premiere business hub

Following a throng of top national and multinational corporations that transferred to Bonifacio Global City (BGC), the country’s top financial regulators have announced separate plans to move their current head offices to Taguig.

 These include the Philippine Stock Exchange (PSE), the  Securities and Exchange Commission (SEC), and the Insurance Commission (IC) which all have announced plans to transfer their headquarters to BGC, while the Intellectual Property Office (IPO) and the Philippine Chamber of Commerce Incorporated (PCCI) both have already moved to new addresses within the burgeoning business district.

 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,” Mayor Lani maintained.

 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, who 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,” Mayor Lani proudly stated.

 Several top businesses 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 Corporation; General Electric Philippines, Inc.; Hewlett-Packard AP LTD- Phil.; Sony Philippines, Inc.; Sun Life Corporation; and the Hongkong and Shanghai Banking Corp. Limited.

 Even prominent law firms like Abello Concepcion Regala & Cruz (ACCRA Law) and Villaraza Cruz Marcelo & 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. ###

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FILIPINO VERSION:

Top financial regulators lilipat sa Taguig

BGC nagiging premiere business hub na ng Pinas

Inanunsiyo na rin ng mga top financial regulator ang kanilang plano na ilipat ang kanilang mga head office sa Taguig matapos sunud-sunod na maglipatan ang mga nangungunang national at multinational corporation.

 Kabilang sa mga ito ang Philippine Stock Exchange (PSE), Securities and Exchange Commission (SEC), at ang Insurance Commission (IC) na nauna nang nag-anunsiyo hinggil sa kanilang plano na ilipat ang kanilang headquarters sa Bonifacio Global City.

 Ang Intellectual Property Office (IPO) at ang Philippine Chamber of Commerce Incorporated (PCCI) naman ay nakalipat na sa BGC.

 Ikinatuwa naman ni Mayor Lani Cayetano ang mga tinawag nitong “new partners” ng lungsod. Sinabi ng alkalde na ang desisyon ng mga itong ilipat ang kanilang mga tanggapan sa BGC at ang ilang daang korporasyon na nauna na sa mga ito ay nagpapatunay sa tumataas na kumpiyansa ng mga mamumuhunan sa Taguig.

 “Ang plano ng mga top business regulator ng bansa na lumipat sa Taguig ay indikasyon ng mataas na kumpiyansa sa BGC na isang fast-rising at high- flying financial center ng bansa,” pahayag ni Mayor Lani.

 Iginiit ni Mayor Lani na ang sinusunod na business model ng lungsod ay ang pagpapatupad ng no corruption, lower taxes, better services at business policies, at no number coding.

 “Dito sa Taguig, madalas tayong nakakukuha ng vote of confidence mula sa iba’t ibang mga negosyo na itinuturing nating mga katuwang sa development. Sila’y aming nirerespeto na kung saan ipinapakita namin na ang kanilang mga buwis ay tunay na napupunta sa mga mamamayan ng Taguig,” pagmamalaki pa ni Mayor Lani.

 Ilang mga negosyo na ang naglipatan sa lungsod, kabilang dito ang Coca-Cola Bottlers Philippines, Inc., ang Coca -Cola Foundation Philippines, Inc., ang East West Bank. Ang BGC ay tahanan na rin ngayon ng malalaking kumpanya tulad ng Smartmatic Philippines, Inc.; Manila Water Company, Inc.; Hewlett-Packard AP LTD-Phil.: Sony Philippines, Inc.: Sun Life Corporation; at ang Hongkong and Shanghai Banking Corp. Limited.

 Nasa Taguig na rin ngayon ang mga prominenteng law firm na Abello Concepcion Regala & Cruz (ACCRA Law) at ang Villaraza Cruz Marcelo & Angangco (CVC Law).

 Maging ang mga nangungunang academic institution ay nagtatayo na rin ng kanilang mga gusali sa lungsod tulad ng University of the Philippines at ang De La Salle University. Ang Korte Suprema rin ay binabalak na ring lumipat  sa BGC.

 Kinilala ng World Bank ang Taguig bilang isa sa mga lugar sa bansa na pinaka-mahusay magnegosyo. Ang Taguig ay nanguna sa mga lungsod sa Metro Manila sa Ease of Doing Business dahil sa pinadali at binawasan ang mga proseso sa pagpapatala ng negosyo. ###