Makati, the country’s financial district, will need to improve its business services and be more investor-friendly if it wants a bigger share of business start-ups in the metropolis and to boost its competitiveness vis-à-vis its aggressive neighboring cities.

Makati City Vice Mayor Ernesto Mercado told reporters that while Makati is the country’s premier financial district, it needs to boost its competitiveness as a business hub in the face of huge gains posted by neighboring cities like Taguig and Mandaluyong.

“These cities have made the necessary investments and have planned for growth. Makati , on the other hand, has lost its edge as a business hub. While our neighbors positioned themselves for growth, Makati has not moved forward,” Mercado said.

Mercado cited a recent World Bank report, the Doing Business Survey, which identified Taguig as the top metro city in terms of starting a business, Marikina for dealing with construction permits, and Mandaluyong for registering a property. “Nowhere in the list is Makati . And so too with most other listings of competitive cities. We need to turn things around soon,” Mercado said.

Mercado noted the city government’s deteriorating business services and lack of incentives for start-ups and investors.

“Unfortunately, Makati’s local executives appear to have other priorities. As a result, the city was unable to match the perks and attractiveness of other Metro Manila cities as a business center,” Mercado said.

He proposed for a top-to-bottom revamp of its business development policies, including its investor and business incentive programs and its promotions campaigns.

“We have had complaints about business permits taking as much as three weeks to be processed. It is the same thing with securing tax certificates and clearances. This may be understandable for lower class municipalities but never for a city like Makati,” Mercado said.