Economy
Lipa’s proximity to the country’s capital, Manila, having an approximate distance of 86 kilometers or an hour and half drive via the Southern Luzon Expressway enhances its strategic access to development trends. It is fast emerging as a key city in the province, becoming a major institutional/administrative center, medical center, commercial center, financial center, agro-industrial center and residential center.
It is identified as an ideal hub and center of the CALABARZON Agro-Industrial Region in the Regional Physical Framework Plan of Region IV-A. In the recent past, Lipa is being transformed from basically agricultural to a highly urbanizing area. A significant portion of the agricultural land area of the city has been converted to residential subdivisions, industrial area with the establishment of LIMA Technology Center utilizing lands in the city and Malvar Municipality. Recently, the influx of business process outsourcing (BPO) firms such as call centers have contributed much to the growth of the local economy. BPO sites are scattered throughout the city. It ranked 6th out of 10 in the Top 10 next wave cities of 2010 by the Commission of Information and Communication Technology (ICCT).
Read more about this topic: Lipa City
Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)