The rockstar mayor wants to restore Manila City to its old glory.
The actor-turned politician said businesses that will set up shop in Escolta would qualify for tax exemptions.
Moreno said only those that will put up a building with 20 stories in Escolta and will hire 70% of their workforce from Manila would receive tax relief for 15 years.
“Kung P1 kinikita namin per square meter sa isang taon at nagparaya ako, after 15 years, bawi na negosyante and on the 16th year Manila will have a windfall without raising taxes,” he wad quoted as saying by ABS-CBN News.
Escolta is one of Manila’s famous streets locates in the old downtown district of Binondo.
