Davao City to amend investment incentive code

Subscribe Now February 08, 2019 at 05:49pm

The City Government of Davao is doing a major overhaul of its revised Davao City Investment Code of 2012 to encourage the entry of fresh investments by enhancing both fiscal and non-fiscal incentive offerings to new investors.

Davao City Investment Promotions Center (DCIPC) head Lemuel Ortonio said consultancy firm Isla Lipana Co. Inc. has already completed the first draft, which will be presented before the Davao City Investment Incentive Board this month for review and approval.

The investment chief said amendments will include increasing fiscal incentives on specific investments and adding more non-fiscal incentives to enable an easier and more convenient facilitation of establishing new establishments in the city, particularly within the preferred investment areas as provided for in the code.

He said the move to enhance the non-fiscal incentives stemmed from the concerns of prospective investors for an establishment of a one-stop shop with national government regulatory agencies to make their business applications faster.

Source: mb.com.ph

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