TAGUM CITY, Davao del Norte – The Davao del Norte Investments and
Incentives Board (DdNIIB) has already approved the Implementing Rules
and Regulations (IRR) and other documents necessary for the
implementation of the Davao del Norte Investments and Incentives Code.
The said approval was done during first meeting last February 11.
The DdNIIB is composed of reflected representatives from the public and
private sectors and chaired by Governor Rodolfo P. Del Rosario.
Private sector members of the Board are the Chambers of Commerce and
Industry of Tagum City and Panabo City, Provincial Agriculture and
Fishery Council, and Filipino-Chinese Chamber of Commerce and Industry.
In his message to the members of the Board, Del Rosario emphasized
the role of the approved Local Investments and Incentives Code (LIIC) in
generating investment, employment and revenue of the province.
“The Local Investments and Incentives Code of the province will
serve as the policy support to the regional economic development and the
ASEAN Economic Cooperation (AEC) Integration. It is expected that with
the approved Code, more inflow of foreign and local investments will be
generated,” he said.
Moreover, Department of Trade and Industry-Davao del Norte
Officer-in-Charge Romeo L. Castañaga said that the approval of the said
IRR and other documents signals the readiness of the Board to hit the
trail towards providing fiscal and non-fiscal incentives to qualified
enterprises and working on other investments-related activities such as
promotion and policy recommendation.
“This is actually a milestone for the Board. And we at DTI are
definitely optimistic about the outcomes of this development,” he said.
DTI is part of the DdNIIB.
In 2014, the province cornered the highest amount of investments all
over the region, based on the facilitated projects by the Board of
Investments (BOI). Data from BOI revealed that 67.7 percent or P8.494
billion of the P12.544 billion total investments in Davao Region last
year was poured in Davao del Norte. The bulk of these investments were
in transportation, logistics and storage projects.DTI-DN/GSL/jmm
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