MANDAUE City is moving to sharpen its competitiveness as an investment hub with the planned redevelopment of its investment code, an initiative spearheaded by the Mandaue Chamber of Commerce and Industry (MCCI) in coordination with the local government.
MCCI president Mark Ynoc said the chamber has started laying down the initial steps of an eight-month roadmap, in consultation with city councilors and department heads and moderated by economist Professor Ronilo Balbieran. The effort, he said, comes on the heels of “substantial conversations” with potential foreign direct investors.
“Our goal is to position Mandaue as a prime investment destination, considering that it is already one of the richest and fastest growing metropolises in the country,” Ynoc said.
The roadmap covers five phases: evaluation and assessment of the current investment code; redevelopment and revision; branding of Mandaue as an investment destination; trade missions to target countries and industries; and an investment forum in the city.
The City Government, meanwhile, is working on support mechanisms to enhance Man-daue’s investment climate, including new tax incentives, an updated Comprehensive Land Use Plan, a strengthened public-private partnership code, industry-focused workforce training and affordable utility rates.
Once completed, Ynoc said they expect the updated code and support systems to make Mandaue more attractive to foreign and domestic investors seeking opportunities in one of the country’s most dynamic growth centers. / KOC