3 businesses apply for incentives from city

THREE different businesses are now applying for incentives in the Davao City Investment and Promotions Center (DCIPC).

DCIPC head Lemuel Ortonio said there are three businesses that are currently processing their application for incentives with the office.

These businesses fall under the Information Technology, academic, and hospital services.

He said they are still not in the liberty to diclose yet the specifics of these three businesses.

Ortonio added they have recently approved incentive application of Biotech and UrbanEast last year.

All of these fall into the 10 preferred investment areas of the city allowing business owners incentives should their business fall under these industries.

These areas include the agribusiness, tourism and recreational facilities, property development, light manufacturing and assembly, information and communications technology, generation of new sources of energy, health and wellness, environmental protection, transportation and infrastructure, and public-private partnerships.

Ortonio said the existing investment incentive code will remain to be used as the review with Isla Lipana accounting firm would be ongoing.

“We are looking forward that with the review of the investment incentive code, there will be fresh investments coming up as well,” said Ortonio.

He added they are also looking forward that the investment code of Davao as well as the preferred investment areas will remain to be complementary with that of the Board of Investments.