CdO trumpets economic recovery

CAGAYAN DE ORO CITY — Mayor Rolando “Klarex” Uy delivered his second State of the City Address (SoCA) on Saturday, highlighting significant achievements under his administration. He proudly announced that the city had earned its first-ever Seal of Good Local Governance award in 2023, attributing this success to sound fiscal policies and improved delivery of government services to the people.

Uy cited the sincerity and transparency of his administration at City Hall for their recovery from the pandemic’s impact and their commitment to resilience.

“Our journey began with the challenge of recovering from the effects of the pandemic. We faced this challenge head-on,” he remarked during his SoCA at the Aquilino Q. Pimentel Jr. International Convention Center.

The mayor highlighted the city’s notable economic achievements, such as ranking as the second richest city outside Metro Manila in per capita Gross Domestic Product and being the third largest urban economy in the country. These accolades, he stressed, have translated into tangible improvements in the lives of Cagayan de Oro’s residents.

Data from the Department of Social Welfare and Development revealed that out of the 15,000 families enrolled in the Pantawid sa Pamilyang Pilipino Program (4Ps), 3,000 have been lifted out of poverty.

Investments continue to pour into the city, buoyed by the substantial disposable income of Kagayanons, which averages around P28,000 per month. The city’s economic vitality is evident in the expansion of local supermarkets like Ororama and Gaisano, alongside the influx of luxury hotels and shopping establishments.

In 2023, the city’s revenue collection reached a record P5.6 billion, while tourist arrivals saw a 12.72 percent increase, reaching 775,024 visitors.

Mayor Uy underscored the city’s commitment to social services and economic programs, with 44.36 percent of the budget allocated to economic initiatives, followed by 30.44 percent to social services and 22.3 percent to general services. The Barangay Empowerment Program alone approved 78 projects amounting to P256 million across 50 barangays.