LIMAY, Bataan — Hall of Fame awardee Mayor Nelson C. David of this industrial town revealed Thursday that his town emerged as the second richest municipality in the Philippines for 2022 calendar year.
Carmona in Cavite topped the list as richest among the 1,487 municipalities in the country. However, Carmona was converted into a component city last July, 2023.
Mayor David attributed the big source of income from the Bataan Petron Refinery and other multinational companies here.
With Carmona now a city, Mayor David expressed optimism that his town can again bag the most richest town title in the coming years.
Some also attributed the success of Limay to the strong local political leadership tandem of Mayor David and his son Vice Mayor Richie David and their allies in the municipal council.
Based on the 2022 Commission on Audit (COA) Annual Financial Report
covering 1,487 municipalities in the country, Carmona, Cavite has total assets of P6.52 billion; and Limay, Bataan with P5.79 billion;
Others in the list of richest towns are Silang, Cavite (P4.45 billion); Caluya, Antique (P3.82 billion); Cabugao, Ilocos Sur (P3.81 billion); Cainta, Rizal (P3.77 billion); Taytay, Rizal (P3.67 billion); Claver, Surigao del Norte (P3.57 billion); Binangonan, Rizal (P3.49 billion).
Sta. Maria, Ilocos Sur (P3.27 billion); Sta. Cruz, Ilocos Sur (P3.22 billion); Pilar, Abra (P3.2 billion); Magsingal, Ilocos Sur (P3.04 billion); Nasugbu, Batangas (P2.96 billion); Sinait, Ilocos Sur (P2.92 billion); Rodriguez, Rizal (P2.86 billion); Sual, Pangasinan (P2.65 billion); Bataraza, Palawan (P2.58 billion); Salcedo, Ilocos Sur and Tanay, Rizal (P2.55 billion).
Meanwhile, Quezon City was the richest local government in the Philippines in 2022, with assets hitting P433.4 billion, according to the Commission on Audit (CoA).
According to CoA, total assets were computed based on the local governments’ current assets, which are composed of cash and cash equivalents, investments, receivables, inventories and pre-payments and deferred changes.
Also part of the assets were investments, receivables, investment property, property, plant and equipment, biological and intangible assets.
Makati City came in second place with assets worth P239.48 billion, followed by the city of Manila with P77.51 billion.
Cebu was the richest province with assets totaling P235.74 billion. Rizal was the second-richest province with assets reaching P35.6 billion, followed by Batangas with P32 billion.
The other year, Mayor David said they were awarded with Hall of Fame for being the richest municipality in the whole country.
Noticeably, Mariveles town, host to the Freeport Area of Bataan was no longer included in the top richest municipality, unlike in the previous years.
LIMAY, Bataan Mayor Nelson David (left) is interviewed by journalist Mar T. Supnad. Mayor David happily informs the public, especially Limay residents, that the town became the second richest municipality in the country in 2022.
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