ROXAS City (Dec 10) — The newly approved Roxas City Expanded Investment Incentives Code (RCEIIC) offers great investment packages that will convince investors to put up businesses here.
The new code aims to provide legal framework and mechanism for integrating investment incentives laws of the national government with local initiatives.
It also intends to promote the growth of all priority businesses including small, medium, and large enterprises, thus, transforming the city’s undeveloped and underdeveloped areas into realms for economic activities and development.
Vice Mayor Ronnie Dadivas said the new incentives ordinance also prepares investors — both foreign and domestic — to compete with those in Bacolod and Iloilo cities.
“We have so much to offer on the investment package, a privilege offered by [the] Roxas City government,” said Dadivas, author of the code.
He said “the legislation is the contribution to the administration of Mayor Angel Alan Celino’s economic portfolio in the area of investment. Welcoming all kinds of investment will help propel and boost the ready and hungry market of Roxas City.”
A Roxas City Investment Incentives Board (RCIIB) chaired by the mayor was formed to implement the new investment law.
Also, a Roxas City Investment Promotion Center (RCIPC) was put up to carry out the investment policies laid down by the RCIIB.
The RCIPC shall be directly under the managing director with the supervision of the RCIIB.
It shall also serve as a one-stop action center that will facilitate applications for registration and issuance of business and other permits from government agencies to the enterprises covered under the code.
The city government shall allocate an initial budget of P500,000 for the RCIPC’s operation.
Under the code, the incentives to be granted shall be available to investments such as but not limited to:
a) Power generation and distribution
b) Tourism including medical/wellness, hotels, resorts, recreational parks, sports and related facilities
c) Real estate including retirement villages, property and housing development
d) Shopping centers to include malls, amusement, and recreational establishment facilities
e) Information and communications technology
f) Research and development/education/training institutions
g) Agriculture and fishery business enterprises including organic fertilizer and farming
h) Infrastructure including flood control, potable water supply, and waste management projects
i) Shipping and shipbuilding
j) Manufacturing and processing including furniture and furnishings
k) Transport facilities; and
l) Logistics distribution.
The new code has been published in a newspaper of general circulation. It will be implemented on Monday, December 5.