DAVAO CITY – The Davao City Investment and Promotion Center (DCIPC) has granted incentive package to three big projects worth P12 billion.
The three projects – a feedmill, low-cost housing, and a green project -- came in during the first quarter of this year.
Also under review are four other projects worth P400 million that all sought tax incentive covering a three-year fiscal and incentive on real property tax for two years.
"Hopefully the Board of DCIPC can act on them (four projects) by October," said Lemuel Ortonio, head of DCIPC.
Ortonio said there are other new businesses that did not apply for incentives, but the city will extend services in securing permits and refer them to the right agencies for the smooth processing of the required permits.
Meanwhile, Ortonio said the city’s Business Bureau is in the process of perfecting the system on business permit application procedure from three to two days provided that the applicants submit complete and correct corresponding documents otherwise it will be sent back to them.
The city government has been riding high on positive business climate.
Ortonio said that in the first half of the year, the city's Business Bureau registered a total value of investments a little over P247 billion which is higher by P17 billion as compared to 2016 annual data of P230 billion.
Also, the city posted a six percent increase in the number of businesses from 32,000 in 2015 to 38,000 in 2016.
Ortonio said he will still discuss with the Business Bureau on the total investment targets for the remaining months of 2017.
The city is also coming up with industry profile of different investments. DCIPC started the profiling for the agri-business, health and wellness, and property development.
"We saw this as an effective measure so we would know whether there is a need to invite more on these type of investments," he said.
He said DCIPC also received several unsolicited proposals mostly on solid waste management and street lighting projects under the Private Public Partnership (PPP) scheme.
"What we did was provide the prospective investors the requirements so they could comply and these will be reviewed by the Davao City PPP secretariat," Ortonio said. (Digna D. Banzon/PNA)
