THE DAVAO City Investment Promotion Center (DCIPC) continues to lure potential investors with fiscal and non-fiscal incentives to spur local growth.
In a radio interview, Christian Cambaya, DCIPC Investor Assistance and Servicing unit head, said the incentives will also help investors quickly recover their ROIs.
“The growth of the economy of the city, based on our monitoring, was driven by investors with services industry just like BPOs and accommodation facilities,” Cambaya said.
Under the Davao City Investment Code of 1994, fiscal incentives include full monetary business tax exemptions for three years, real property tax exemption for two years (excluding SEF and barangay share), and exemption of Mayor’s permit fee for three years. While non-fiscal, are incentives that provide assistance to investors: investment counseling and business matching, business information and data banking, processing of local permits and licenses, and referral for manpower and raw materials sourcing.
Cambaya said investors may invest in the city’s preferred investment areas such as agribusiness, tourism, health, light manufacturing, property development, technology, inclusive business activities, infrastructure, eco-industry, and education.
Investors who invest in those areas are entitled to five years of business tax exemption, five years of real property tax exemption, and five years of Mayor’s Permit fee exemption.
“If investors would invest in any of the ten, pwede siya maka-avail ani nga mga incentives,” he said.
Investors may avail of these incentives so long as the investment falls under the preferred investment areas; new enterprises with a capitalization of at least P3 million and must have at least 10 employees from Davao City; and existing companies that plan to expand must locate their new facilities in the city, with a project cost of at least P3 million and must have employees of at least 20 people from the city.
Interested investors are advised to visit the DCIPC page for more details.
Photo courtesy of DCIPC Facebook page
