Business activity in the nation’s capital remained robust through the first five months of the year, with new business registrations surging and total new investments reaching P3.303 billion, Mayor Francisco “Isko Moreno” Domagoso said Tuesday.

The surge comes despite the geopolitical conflict between the United States and Iran that broke out 28 February which has destabilized the global economy and driven domestic fuel prices to historic highs.

Data from the city’s Bureau of Permits showed that Manila recorded some of its strongest business registration figures in recent memory during the three months following the outbreak of the war.

In March, the city processed 1,115 new businesses with P962 million in paid investments. This represents a massive increase from March 2025, which saw only 126 registrations and P91 million in investments.

The upward trend continued into the spring. Manila logged 692 new business registrations yielding P644 million in investments in April, followed by 622 registrations worth P576 million in May.

Domagoso said the data proves Manila’s resilience during a period of acute supply disruptions, currency volatility and rising fuel prices that continue to hurt consumers and small businesses nationwide.

“The City of Manila remains open for business, and the numbers prove it,” Domagoso said. “Amid the global uncertainty triggered by the war in the Middle East and its cascading effects on oil prices, our administration is doubling down on local economic programs that generate jobs, protect consumers and attract investors.”

The capital’s business climate was already accelerating before the conflict began. New business registrations in January rose to 690 from 303 during the same month last year, bringing in P283 million.