33 Cebu LGUs enact investment code

Thirty-three local government units in Cebu have already come up with their own local investment and incentives code (LIIC).

The remaining 18 LGUs, on the other hand, are still drafting their LIIC, which aims to enhance the city or town economy’s competitiveness through investment promotion and industrial development activities.

Cebu Provincial Investments and Promotions Office (CPIPO) Head Floreza Alpuerto said the code is essential as it sets the process on how to deal with investors and the incentives, such as tax holidays, investors may enjoy.

The provincial government passed an ordinance establishing an Investment and Incentives Code in 2014.

More than half of the LGUs followed suit by aligning their LIIC with that of the province.

But aside from passing the LIIC, Alpuerto said the local investment officers must be further capacitated.

CPIPO has been conducting LIIC-related activities to capacitate municipal and city investment officers.

All LGUs are required to have investment and promotions officers as provided for under the Local Government Code.

Last week, it spearheaded a two-day conference about the public-private partnership (PPP).

The activity’s resource speakers were experts from Toyo University in Japan.

“We are here to help them understand what unsolicited proposal means, what Cebu should be doing with the project, and what they go through to evaluate the sizes of projects for them to propose to the governor if that is a good project or not so good project,” said Professor Sam Taguchi.

Taguchi’s team will assess the potential market value of a government property and finding ways to develop it.

According to the Japanese speakers, the disaster risk reduction (DRR) research center, the redevelopment of the Cebu South Bus Terminal and the development of some province-owned prime properties are among the province’s potential investment areas.

The conference aimed at educating policymaker and stakeholders on the value of PPPs in promoting sustainable development, and training focal persons on how to evaluate an unsolicited proposal from private entities. —

Lorraine Mitzi A. Ambrad/KBQ