The City of Manila continues to show solid business activity heading into 2026, with new business registrations significantly outpacing closures, a sign of strong confidence in the capital even as national economic growth forecasts have been cut.

This, as Mayor Francisco “Isko Moreno” Domagoso disclosed that data from the Bureau of Permits indicated businessmen and entrepreneurs “continue to bet on Manila,” despite external risks weighing on the overall Philippine outlook.

Of the capital’s 55,924 registered businesses, 7,265 new businesses have registered this year, a 12.99 percent registration rate. In contrast, 1,390 businesses have closed, resulting in a 2.48 percent retirement rate.

It yields a net business growth rate of 10.51 percent, which Domagoso said was a clear indication of sustained confidence in Manila’s economy.

He added that the stronger numbers reflect reforms launched since July 2025, including the full reactivation of the electronic Business One-Stop Shop (eBOSS), the reduction of zoning requirements from 25 steps to seven, and the trimming of zoning appeals from 15 steps to five.

These measures, paired with stronger revenue enforcement, helped boost the city’s collection efficiency from 61 percent in the first half of the year to 81 percent between July and September 2025.

Domagoso cited that Manila’s economic gains come as national forecasts have turned more cautious. On Monday, the ASEAN+3 Macroeconomic Research Office (AMRO) trimmed its 2024 growth outlook for the Philippines to 5.2 percent following a softer third quarter and weather-related disruptions.

The following day, Fitch Solutions unit BMI warned that foreign direct investments could continue to slow through 2026 amid corruption concerns and global uncertainty, adding strain to the peso, which is hovering around P58.90 to the dollar.

Despite these national headwinds, Domagoso maintained that recent data show the city “holding firm,” supported by improvements in permitting, fiscal management, and frontline service delivery.

The mayor had previously highlighted stronger revenues and rising investment activity in his first 100 days back in office in October, which delivered 12,752 jobs and P7.1 billion in total investments.

“Manila is slowly rising again,” Domagoso said. “The sun will shine on the city again. Through proper and honest management of public funds, we will overcome all challenges. God is merciful.”