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Manila Bulletin devider Philippines devider Metro Manila devider New Carmona City positions itself as prime location for local, foreign investments

New Carmona City positions itself as prime location for local, foreign investments

Published Jul 14, 2023 03:55 am
CARMONA, Cavite – The province’s newest component city is now working to position itself as a prime location for businesses and foreign direct investments (FDIs). Carmona’s conversion from a first-class municipality into a city was ratified through a [plebiscite](https://mb.com.ph/2023/7/9/carmona-now-8th-component-city-of-cavite) held on July 8. The proclamation of Carmona's cityhood ratification on July 8 (Carla Bauto Deña/MANILA BULLETIN)
“We are proud to commemorate this milestone with our residents and stakeholders. This celebration not only signifies our progress but also highlights the unity and vibrancy of our community. We look forward to a future filled with even more opportunities and achievements,” Mayor Dahlia A. Loyola said in a statement. Mayor Dahlia A. Loyola during the proclamation of Carmona's cityhood ratification on July 8 (Carla Bauto Deña/MANILA BULLETIN)
The new city aims to establish a competitive advantage through the provision of reduced business taxes compared to nearby cities. This strategy will lay a strong groundwork for Carmona's progress, specifically in attracting additional investors and positioning the city as an enticing option for ventures seeking growth. “As our commitment to continuous progress, one of the major projects that we will take on this year is the Carmona International City (CIC) development. Launching the CIC marks a long-awaited achievement that reflects the aspirations and collective efforts of our community. This milestone fuels optimism and growth plans as we embark on a transformative journey towards becoming a beacon of progress and success,” Cavite 5th District Rep. Roy M. Loyola said in a statement. (Carla Bauto Deña/MANILA BULLETIN)
Through the CIC, the local government unit (LGU) aims to expand employment opportunities, real estate value, connectivity, government revenue, and sustainable development. The LGU is collaborating with SM Development Corporation (SMDC) and SM Prime Holdings, Inc. (SMPH) for the CIC project, showcasing the partnership between government and private institutions in fostering inclusive growth.

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foreign direct investments (FDI) Carmona Cavite Carmona City Metro News Cavite
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