DILG encourages LGUs to create local investment code

To encourage investors to do more business in the country, Interior and Local Government Secretary Jesse Robredo is urging all provinces, cities and municipalities to craft their respective local investment and incentives code, a statement posted on the DILG website (www.dilg.gov.ph) said.

Robredo made the call during the Investment Forum titled "Go LOCAL and Multiply: Networking for Investment Opportunities in Agribusiness and Tourism" attended by local government executives.

Organized by the Local Governance Support Program for Local Economic Development and the DILG, in collaboration with other national government agencies, the forum showcased investment opportunities from 10 LGUs alliances to encourage partnerships, exchange practices and attract investments particularly in agribusiness and tourism.

The DILG chief said that the formulation of the LIIC is provided for under the Local Government Code which mandates the Local Development Councils at the provincial, city and municipal levels to come up with an LIIC.

"The LIIC is a come-on for potential investors because it should not only spell out the local government's investment policies and programs, but the local fiscal and non-fiscal incentives available to them, and the procedures for availing them as well," he said.

According to Robredo, the code should also define the composition, roles, and functions of the Local Investment and Incentives Board and the programs and services of the Investments Promotion Center.

On the other hand, he said that while some LGUs succeeded in bringing about progress in their localities because of corporate ingenuity, some LGUs used their corporate powers as opportunity for corruption that eroded the trust of the people.

"Even as we want to draw both local and foreign investors especially in priority areas and industries, we hope to eradicate leakages which can be used to circumvent the provisions of the law. It is for this reason that we deem it necessary to come up with a Standard or Guide for LGUs in Formulating their LIIC." Robredo said.

The LIIC, he said, would also help ensure that development is consistent with the LGU's Comprehensive Development Plan, Comprehensive Land Use Plan, and the overall economic development vision of the locality. - PIA — ARA