The National Competitiveness Council - Philippines (NCC-P) has released specific rankings of provinces, cities and municipalities in its competitiveness studies of 81 provinces, 145 cities and 1,489 municipalities, with Caloocan City emerging as the top city in investment promotions and availability of utilities.
Caloocan also bagged the distinction of having the 2nd highest local economy growth in the country and also 2nd city in the Philippines for having the most extensive and developed road network.
Caloocan also garnered 3rd place in having the lowest cost of living among its residences, and is the 5th largest local economy in the country.
Other significant rankings of Caloocan in NCC-P's indicators in measuring the competitiveness of a locality are: #7 in financial institutions, #7 most competitive LGU awardee, #8 in compliance to national directives to LGUs, #9 in education and #9 in its connectivity to information and communications technologies (ICT).
In this light, Caloocan City Mayor Oscar Malapitan expressed his enthusiasm in bringing back Caloocan in the economic map, saying, "before my 1st term of office, Caloocan was ranked #69 in the competitiveness index, and when my team assumed office, the city jumped to #9 in rank and we retained the same ranking this year".
"This is a manifestation of our hard work in instituting business-friendly policies towards the inclusive growth of our city's economy", Malapitan added.
According to NCC-P, economic dynamism is usually associated with activities that create stable expansion of business and industries and higher employment. This is the concrete representation of productivity as it matches the output of the local economy with local resources. Conceptually, it is the combination of the entrepreneurial spirit and the financial institutions that will channel dynamism (Edmund Phelps). It is recognized that localities are the centers of economic activities. Therefore, business expansion and job creation are easily observable in local settings.