EDITORIAL - Battle over BGC

The case will likely still go to the Supreme Court. For now, the local governments of Makati and Taguig are reportedly considering a revenue-sharing scheme in Bonifacio Global City. The upscale BGC, carved out of the portion of Fort Bonifacio that was sold by the government to raise funds for military modernization, was the jewel of Taguig, until the Court of Appeals ruled recently that the area belonged to Makati. Taguig officials said they were considering taking the case to the Supreme Court.

While the legal tussle over local government jurisdiction continues, both sides should refrain from any action that might ruin the business climate in BGC. Several studies have shown that Taguig is the easiest place to do business in this country. The ease in opening and operating a business and undertaking construction projects in Taguig led to an economic boom that continues to this day in the city, particularly in the BGC. Foreign governments have also taken notice, with Britain, Singapore and South Korea constructing modern buildings in sprawling compounds within BGC to house their embassies.

Property development in the area has been better regulated than in the rest of Metro Manila, with large tracts dedicated to parks and greenery. BGC is supposed to be a model for planned urban development, and both Makati and Taguig should make sure the area does not become just another crowded urban jungle.

Equally important is maintaining the business confidence and interest that drew local and foreign investors alike to BGC. Some quarters have expressed concern about possible changes in the business rules and processes that attracted them to BGC. Makati, which has also seen a sustained economic boom and is home to the nation’s financial district and high-end commercial development, knows the importance of maintaining a stable business environment. Whichever city finally gets BGC, the formula for its success must be enhanced rather than endangered.