La Trinidad lobbies for investment code-A A +A
Monday, November 4, 2013
LA TRINIDAD, Benguet – Valley investments will soon be put into place.
Aldermen here are batting for the approval of the investment code aiming to lay down the legal framework integrating the investment incentives laws of national government with local development plans.
The code also pushes to spread development from the urban areas to undeveloped and underdeveloped areas of the Municipality as well as promote the flow of foreign and local investors into the municipality to generate employment and provide backward and forward linkages among industries in the area.
Councilor Roderick Awingan said the code will transform areas of the Valley into highly developed agri-industrial, industrial, commercial, tourist, investment and financial centers of the province, the region or the country and promote balanced development.
The investment code aims to attract investors, both local and foreign, by creating a good climate for investments and providing incentives for investments.
A Local Investment Board headed by the mayor will also be formed to oversee the implementation of the local investment code.
The board will be composed of the vice mayor as co-chairman, Municipal Treasurer, Municipal Assessor, Municipal Planning and Development officer, members of the local council, the provincial director- Department of Trade and Industry, three representatives from the business organizations, two representatives from the industry associations and a lone representative from the tourism organization.
The board is responsible for the regulation and promotion of investments in the Municipality as well as to oversee the La Trinidad Business Development and promotions center, process and act on applications for incentive availing and granting incentives to qualified investor applicants.
The ordinance passed first reading and will go through consultations with stakeholders in the coming months.
Published in the Sun.Star Baguio newspaper on November 05, 2013.