DCIPC plans to trim Down fiscal incentives

THE Davao City Investment Promotions Center (DCIPC) may trim down and put specific qualifiers for different investment sectors for the availment of fiscal incentives, this after the review of priority investment codes.

During the business forum yesterday, January 9, with DCIPC head Lemuel Ortonio, he said 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.

"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. The output of such meetings will be relayed to Isla Lipana firm for consideration.

Ortonio said they might also take into consideration the addition of Halalfriendly establishments as part of the priority investment areas in Davao City.

Target start of incentive review is by June 2018 with target implementation by the end of 2018 or early 2019.

Despite the Martial Law in Mindanao, Ortonio said the investment climate of Davao City for 2017 was generally good as a lot of investors had expreased interest.

"Martial Law had an impact but not very much. After a month or two (of the declaration), there was already an increase in the number of investors coming to express interest," he said.