IN a significant development for Cagayan de Oro City, an investment worth P13.5 billion has been pledged by top officials of developer Pueblo de Oro Corp. for the city's uptown area.
This remarkable announcement was made by Mayor Rolando 'Klarex' Uy during the popular program 'Ang Inyong Alagad Mayor Klarex Uy' on Friday morning.
This substantial investment comes at a time when Cagayan de Oro has received recognition for its business-friendly environment.
The city recently made it to the finals of the Most Business Friendly Local Government Unit Awards, organized by the Philippine Chamber of Commerce and Industry.
This achievement highlights the city's commitment to fostering a conducive environment for businesses to thrive.
Furthermore, the first year of Mayor Uy's administration has seen Cagayan de Oro attain commendable success in the 2023 Cities and Municipalities Competitiveness Index (CMCI) Awards.
Earlier, City Mayor's Office Chief of Staff Shiela Lumbatan said the city secured the seventh position overall in this prestigious competition, which was led by the Department of Trade and Industry (DTI), the National Competitiveness Council (NCC), and the US Agency for International Development (USAID).
The investment infusion of P13.5 billion from Pueblo de Oro Corp. is expected to have a transformative impact on Cagayan de Oro's uptown area, according to Uy.
The mayor also said this development will not only enhance the city's economic growth but also create new opportunities for employment and improve the overall quality of life for its residents.
The commitment shown by Pueblo de Oro Corp. is indicative of the potential and attractiveness of Cagayan de Oro as an investment destination, Mayor Uy said.
Uy also expressed his gratitude for the trust and confidence placed in the city, stating that this investment would further boost its progress and development.
He emphasized that the administration is dedicated to attracting more investments and providing full support to businesses that choose to operate in Cagayan de Oro.
With its remarkable achievements in the business-friendly arena and the substantial investment commitment, Cagayan de Oro is poised to continue its growth trajectory.
Under Mayor Klarex's leadership, the city is determined to create a sustainable and prosperous environment for its residents and businesses alike.
The future looks promising as Cagayan de Oro solidifies its position as an emerging economic powerhouse in the region.
