Tagum to grant five-year tax holiday to investors

CITING the newly-approved Investments and Incentives Code of Tagum City, Mayor Allan L. Rellon bared big ticket investments and projects that are ready for implementation in the city. Rellon said the city government is ready to provide a five-year tax holiday to investors through the incentives code, while also applying the principle of “facilitative governance” in assisting investors push through with their business in Tagum.

Approved on May 5, 2014, the code paves way for the setting up of a One-Stop Shop for interested investors to easily process permits and other requirements needed to start their business in the city, he said.

More than a month after the code approval, Rellon cited upbeat investment climate and fast entry of infrastructure projects.

He reported the recent visit of Malaysian investors looking for suppliers of lemon grass while he also talked about commitments of Robinson’s top executive to finish the mall construction by September next year with six cinemas in it.

He also bared plans of Big 8 Corporate Hotel owner to put up another hotel building and that proprietors of existing malls also had plans to expand while SM Malls will also pour investments in the city.

He said investments in the pipeline included the construction of an international container port at the Hijo Banana Plantation area of the Tuazon family and the continued development of the Banana Beach Resort which is emerging as a prime tourist destination within city-reach.

Rellon said a budget of P200 million had already been allotted for Madaum road expansion by the Department of Tourism (DOT) and the Deparment of Public Works and Highways (DPWH).

Traversing the container port development site, the road once expanded is projected to accommodate increased volume of traffic, Rellon said.

Rellon also assured the Provincial Planning and Development Office (PPDO) of the provincial government of Davao del Norte of a P500 million flyover project which will be built in anticipation of the huge volume of traffic coming from the container port and due to increased business activities in the city.