Changes proposed for investment code

The Davao City Investment Promotion Center (DCIPC) said they have already made changes in the proposed ammendment of the city's investment code in a bid to attract more investors.

"Right now based on the consultation from the different industry associations and discussion with the advisory panel gi focus namo ang mga sub activities under agribusiness on post-production facilities (We are focusing on the sub-activities under agribusiness on post production facilities), " DCIPC officer in charge Lemuel Ortonio said during the weekly Habi at Kape press conference on Abreeza Mall, yesterday February 6.

Ortonio added one of factors they are focusing on post-production facilities is because most of the agribusinesses and farmers are having difficulting in processing their raw materials due to lack of facilities.

He said that they also made changes on tourism and recreational facilities. He added that they also made major change on incentives that they will be giving to potential investors.

Ortonio said other changes included were education, sports, and wellness are now separate preferred investment areas while environment was merged with infrastructure.

However, Ortonio said some revision will still not be disclosed because it will still be discussed by the Investment Incentive Board.

Ortonio said the first draft of Incentive and Investment Code has already been completed. It is now ready for presentation to the board by the end of February 2019. He added if there will be no changes they will endorse it to the city council.

"Dili namo gusto nga maabtan sa change in composition sa atong city council kay mubalik man siya sa uno so ginatarget nato macomplete and maapproved siya before mag end ang ilahang term on June (We are hoping to have the Incentive and Investment Code approved before the composition of the city council changes)," Ortonio said.