IN its bid to further spur the investment and business climate of Davao City, the city government is set to finalize the things that need to be done for the review of its investment code this week.
"As a highlight for the business community, the city government of Davao is now set to start the review of the Davao City Investment Incentive Code. Davao City Investment Promotions Center (DCIPC) will be meeting with Isla Lipana Inc. next week to finalize the list of activities for the review within the first half of 2018," said Davao City Mayor Sara Z. Duterte-Carpio during the 50th installation of officers of the Davao City Chamber of Commerce and Industry, Inc. (DCCCII) at the SMX Convention Center, SM Lanand Premier, Davao City on January 26, 2018.
The mayor has invited the business chamber and its members to participate in the review of the city's investment code.
"Your inputs will be valuable in ensuring that we identify the investment gaps and opportunities to keep up with the global trends," Duterte-Carpio said.
In an earlier interview with DCIPC head Lemuel Ortonio, he said they are targeting to start the review by June 2018 with target implementation by the end of 2018 or early 2019.
He said there is a possibility of having incentives for new investment areas.
"We might need to review some investment areas where there are no incentive applications and yet there are a lot of investments coming in. We might need to consider if incentive is really needed. Or we might put up specific qualifiers as our current incentive code is very generic," Ortonio said.
He added that DCIPC had done some consultative meetings with the agribusiness and the health sector.
Ortonio also said they might also take into consideration the addition of Halal-friendly establishments as part of the priority investment areas in Davao City.
It was also reported earlier that the legislative authority for the memorandum of agreement between the city government and Isla Lipana firm was already signed on the later quarter of 2017. (RJL with reports from JPA)