Davao eyes investment changes

DAVAO CITY — The Davao City Investment and Promotion Center is proposing changes to the city’s Investment Incentive Code to attract more investments.

Christian Cambaya, the center’s unit head for Investor Assistance and Servicing, on Friday said the code would list the preferred investment area and provide tax incentives to potential investors.
He said there are 10 sectors under the preferred investment area including property development, tourism, agribusiness, tourism, technology, business process outsourcing, transportation and infrastructure.

He also said its partner, accounting firm Punongbayan and Araullo, would lead the review and study of the Incentive Code.

He said there are two components under the memorandum of agreement signed by the center and the accounting firm — the conduct of the study and a review of the Incentive Code. — Maya Padillo