Sunday, February 28, 2016

IGaCoS industry roadmap drafted

DAVAO DEL NORTE, FEBRUARY 29, 2016 - In a move to promote the city as one of the major investment hubs in the region, the Island Garden City of Samal (IGaCoS) Investment Board through its secretariat, the City Investment Promotion Office with the assistance of the Department of Trade and Industry – Davao del Norte Provincial Office assembled the city’s public and private sector for a two-day workshop.

Held last February 4-5, 2016 at the ABC Session Hall in the New City Hall site, the workshop aims to draft the city's 2017 – 2019 Investment Priority Roadmap.

The growing competition among countries and local government units in generating foreign and domestic investments prompted the Island Garden City of Samal to strengthen its investment promotion and generation strategies which led into the approval and implementation of the IGaCoS’ Local Investment and Incentive Code (LIIC) in 2015.

Along with its implementation is the establishment of the IGaCoS Investment Board, which serves as the institutional body that spearheads the implementation of the LIIC. To propel the enforcement of its LIIC, the local government unit pushed for the drafting of the city’s first ever Investment Priority Roadmap.

The said roadmap will serve as an operational tool in implementing programs, projects, and activities that will generate quick wins and milestones on investment promotion and generation in the city for the next three years.

To ensure oneness in direction with the national government, the identification of priority investment projects and initiatives for the city is harmonized from the various local, regional and national plans such as the Philippine Development Plan, Region XI Industry Clusters Roadmap and the City Land Use Plan. It also took into account the ASEAN Economic Community Integration which is considered one of the major game-changers for the country’s economy.

The draft will be endorsed for review to the Island Garden City of Samal Investment Board then to the Sangguniang Panglungsod for final approval.The body expects to realize the final output by April this year.

Once approved, it will serve as a catalyst that will set the direction for the investment priority areas to be implemented by the IGaCoS Investment Board and the City Investment Promotion Office who are the key enablers for investment promotion and generation.

IGaCoS is the first local government unit in Davao del Norte to come up with an investment priority roadmap. (Judecia H. Ponio, Information Officer-Designate, Department of Trade and Industry - Davao del Norte)

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