Balanga gets P153-M investments for 2008

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    BALANGA CITY- This component city has attracted P153.471 million in new and improved investments for 2008 because of its accessibility, good facilities and favorable peace and order condition, Mayor Jose Enrique “Joet” Garcia III said over the weekend.

    The city mayor also announced that per reports made by the banking sector, P6 billion of the P11 billion assets circulating in Bataan are in Balanga.

    In Balanga are the branches of the Philippine National Bank, Land Bank of the Philippines, Development Bank of the Philippines, Banco Filipino, Accord Bank, China Bank, Metro Bank, United Coconut Planters’ Bank, Unity Bank and Banco de Oro.

    Also operating in the city are the Bataan Development Bank and the rural banks of Balanga, Limay, Bagac and Pilar.

    Garcia said aside from the banks, new and improved investments came from food chains, restaurants, parlors, car shops, coffee shops, supermarkets, business offices and stores.

    “We have the needed infrastructures, a business-friendly office with our “one stop shop”, good telecommunications services, 100 percent electrification, good peace and order and almost everything that businessmen need are in place in the city,” Mayor Joet said.

    He said that in the “one stop shop” located in the spacious lobby of the air-conditioned city hall, requirements are clear and business and mayor’s permits are issued quickly. “The bases for the computation of taxes are clear because there is a ready formula, no “palakasan” system and all taxpayers are treated equally,” Garcia said.

    The mayor also announced that soon the renovation of the 6,000-square meter city plaza will start. Patterned after the Salamanca plaza in Spain, construction was budgeted for P20 million with design prepared by known Architect Felino Palfox, Jr.

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