Davao City LGU collects P1.178 billion in revenues from business renewals
February 03, 2019 at 09:19am
Duterte said the Business Bureau recorded a total of 36,778 business renewal applications as of last Monday, higher compared to 35,746 applications approved in January last year.
She said the revenues collected from the businesses can help the city implement important projects.
“With these increased revenues, the City Government can come up with more programs and projects that will support not only the business community but all sectors of society,” the mayor said.
She said the City Government of Davao has allocated P396.386 million for the improvement of road networks, including concreting and rehabilitation of the roads in the city’s three districts and construction of farm-to-market roads.
Duterte said the city government has also set aside a budget worth P203.9 million for the upgrading of the drainage systems in Poblacion District, Bucana, Matina, Ma-a, Talomo, Agdao, Calinan, and Toril areas.
Aside from hard infrastructure projects, Duterte added the city will also allocate P83.05 million for the economic development programs, specifically agriculture and fisheries development, cooperative services and livelihood development, veterinary programs and tourism.
She said another P171 million will be set aside to implement social development programs such as literacy enhancement, health care, social alleviation, youth development, and gender and development, and P50.046 million for the construction of health centers, daycare centers, tribal halls, and multipurpose buildings.
“With the increase in businesses which is reflective of the positive business and investment climate in Davao City, I am optimistic that we can suppress the gains we have attained in 2018 and achieve all our plans for 2019 and for the years to come,” she said.
Davao City Investment Promotions Center head Lemuel G. Ortonio said the local government has seen an upsurge in real property development, which could have jacked up local revenues.
“It’s very evident in the past few years that there are several buildings that are being constructed. There were previously idle lands that are being transformed into commercial spaces and industrial estates. There was also an increase in real property tax (rate), that could also have contributed to the increase in the collections and our income on real property developments,” he added.
Ortonio said the local government is revising the Davao City Investment Incentive Code to entice more investors to do business here.
He added that they have already identified the key areas that would comprise the new preferred investment areas.
“It is not yet official but we have trimmed down some of the preferred sub activities in the key industries like, for example, agri-business. That’s one of our preferred investment areas,” he added.
Source: mindanews.com
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