Saturday, September 8, 2012

DTI to hold seminar on Investment Priority Plan

THE Department of Trade and Industry (DTI) in Davao Region will stage an orientation seminar on the 2012 Investment Priority Plan (IPP), a blueprint that will highlight the preferred areas for investments for the different companies in the region. Rachel Remetio, DTI regional Investments and Industry Development Division chief, said the objective of the orientation seminar is to create awareness among prospect investors about what possible investments to pursue in Davao Region that can benefit them through incentives. Remetio said around 100 participants from different local government units (LGUs) and business firms registered with the Bureau of Investments (BOI) in the region are expected to come. Some local executives and firms from Autonomous Region for Muslim Mindanao (Armm) will also participate in the orientation seminar, according to Remetio. The 2012 IPP provides that among the areas preferred areas of investments are agriculture/agribusiness and fishery, creative industries/knowledge-based services, shipbuilding, mass housing, and iron and steel. Among the areas for investments are energy, infrastructure, research and development, green projects, motor vehicles, strategic projects, and disaster prevention, mitigation, and recovery projects. Remetion said these are the projects that will address the major priorities of the government and that will also benefit majority of the people. She also said still part of the orientation seminar is to assist those cities and municipalities who have not drafted yet their respective Local Investments and Incentives Code (LIIC). The LIIC, Remetion said, will stir the business activities of a municipality, as there will be more businessmen to come for investments. However, there are only few more municipalities in the region who have not yet drafted their LIIC just like to the local government in Dujali, Davao del Norte. The seminar will also assist the cities and municipalities in updating their LIICs. "Before, they don't see the need of LIIC because there were only few businesses that would spur economic activities. But now they see the need to draft investments and incetives code," Remetio said.