Caloocan City has been attracting 2,000 new businesses on the average annually, helping the city increase its income from only P4.8 billion in 2015 to about P6 billion in 2017.
Nolan B. Sison, officer in charge of the city government’s Public Information Office, told the BusinessMirror that Henry Sy’s SM Prime Holdings Inc. is one of the big companies that have been actively expanding in the city in October 2015, SM opened its 55th shopping mall at the corner of Samson Road and Mabini Street in Sangandaan Area. The SM Center Sangandaan, as it is called, includes SM Supermarket, SM Appliance Center, SM Cinema, Banco de Oro, Ace Hardware and Watsons as its tenants.
The National Competitive Council has reported that Caloocan City was again included in the Top 10 most competitive highly urbanized cities—a feat it has achieved since 2014—due to high scores it received each year in economic dynamism, government efficiency and infrastructure categories. In 2013 Caloocan City was only ranked 69th.
Sison said the other main factor that helped Caloocan City increase its revenues was the “effective tax payment campaign” of the city treasurer’s office, assessor’s office and the business permit and licensing office that convinced many delinquent taxpayers to start paying “correct taxes” on time.
At the same time, the city government have new sources of income like the stickers for delivery trucks, fines on erring drivers and the environmental clearance payments, he added.