4 Davao LGUs okay own investment code-A A +A
Sunday, August 10, 2014
FOUR local government units (LGUs) in Davao Region have already crafted and approved their own local investment incentives code (LIIC), enabling them to attract more investors.
These are the towns of Gov. Generoso and Baganga in Davao Oriental, Tagum City, and the Provincial Government of Davao Oriental.
During the first half of 2014, the amended 1998 LIIC of Governor Generoso was recently approved while the Baganga LIIC was approved through Municipal Ordinance 34-A series of 2013 Implementing Rules and Regulations.
The Tagum City Investment and Incentives Code (TCIIC) was approved during the regular session of the 6th City Council of Tagum last May 5 and signed by Tagum City Mayor Allan Rellon last May 26. The Davao del Norte LIIC was approved last March 17 by the Provincial Board.
Department of Trade and Industry-Davao officer-in-charge Ma. Belenda Q. Ambi, in a phone interview, said the LIIC will allow the LGUs to attract more investments and, at the same time, determine the priority investment areas.
She said the LIICs not only feature priority investment areas but also have provisions that will prioritize projects that are environmentally friendly.
The LIICs is seen to not only generate more investments but also generate more jobs and boost the economic development of these areas.
Ambi said the crafting of LIICs is a joint effort by the DTI and the Department of Interior Local Government.
She said they at the DTI conducted orientations and assisted in the drafting of the LIICs.
"We try to harmonize all the LIICs in the davao region like align the LIICs of the provincial government and the municipal government. This is to establish or set a standard for the LIICs in the region," Ambi said.
Published in the Sun.Star Davao newspaper on August 11, 2014.