32 banks hasten Bataan’s economic growth

BALANGA CITY, Bataan – City Treasurer Joselito Evangelista is anticipating a vibrant upswing of the economic ambiance with the operation of 32 banking institutions in this fast growing component city of Bataan peninsula.

The establishment of commercial banks signifies the interactive and pulsating financial tone in the province’s educational and business center which is emerging as investment hub in Central Luzon area, Evangelista said.

He stressed that the record of business tax collections shows an average growth rate of 14 percent for the last five years, from P 40,671,572 in year 2011 to P68,227,757.30 in year 2015.

Undeniably, Balanga City is one of the top choices in the list of prospective investors among small and medium entrepreneurs from Central Luzon and Metro Manila, Evangelista explained the rising economic activities in the locality.

A number of corporate entities have undertaken exhaustive research and assessment process of the high and valuable marketing target to penetrate the big need of food and other consumer outlets which reportedly are interested in joint ventures with local counterparts

Evangelista said the receptive action of investors is reportedly focused on the benefits provided on the fiscal and non-fiscal economic policy of the local government, stable power, highly-skilled workers, peaceful environment, well–maintained infrastructure and communication facilities and proximity to international ports.

The establishment of the multi-billion peso worth Vista Mall is expected to inspire small and medium capitalists to put up food kiosks which would cater to the growing population and visitors to Balanga City, Evangelista added.