By BEVERLY C. PAOYON
ALABEL, Sarangani (November 27, 2012) - Sarangani launched its Revised Investment Code on Monday (November 26) to enhance the local government’s competitiveness in addressing the needs and concerns in its investors and in creating a business-friendly environment in the province.
Since 2007, this is the second amendment of the code which specifically polished the granting of incentives and the provision of technical assistance to those who apply for tax exemption for new businesses in Sarangani.
Compared to the 2007 Investment Code, the newly-amended version offers full exemption from payment of a hundred percent provincial government share on tax on sand, gravel and other quarry resources during the construction period of business facilities but not exceeding two years. Same exemption is being offered in basic real property tax for businessmen to enjoy a maximum of five years.
Also offered is the full exemption from the annual payment of governor’s permit fees for maximum of five years and 50 percent discount on amusement tax, rental rates on provincial government, controlled and/or operated light and heavy equipment during construction of business structure.
These are among the initiatives and programs the provincial government has been doing to improve its business climate which, as Governor Migs Dominguez said, should guarantee safety of the investments that businessmen have put up.
“Our motto is you should be able to sleep well at night even if you’re from Manila or the States knowing that your one million dollars is extremely safe in the Philippines especially in Sarangani,” Dominguez told an audience of local investors and those coming from the SOCSARGEN area.
“I think many locators can probably say that we have walked hand-in-hand with them in ensuring that their business would not only be prosperous but business will be snag-free of any external concerns especially concerns coming from the political sector,” Dominguez said. He also made it a point to them the assurance of the viability and success of the enterprise that they would locate in Sarangani.
Sarangani has opened various business opportunities to investors over the last eight years which already generated more than 90 major investments in the various priority investment areas mostly in tourism, plantation agriculture, aquaculture, manufacturing and support services.
In the last three years (2009-2011), capital infused on new investments has increased by an average growth rate of 39.34 percent based on the total P1.34 billion capital invested in Sarangani.
This, according to Dominguez, indicated that Sarangani “exceeded many for growth targets for the past few years.”
“Structurally, several agro economic facilities in the towns of Maasim and Alabel have been set up that ensured competitive advantages for the province vis-à-vis our neighbors and different local government units may bring around the province,”he added.
Sarangani Energy Corporation project assurance manager Joel Aton, who is a member of Sarangani Provincial Board of Investment, said the “prospect for the investment in Sarangani is great considering that we have revised the investment code” which opened doors for any kind of investments to the province.
Aton also cited that “infrastructures are already present except some facilities that I know there are already lots of investors who are interested to put them up like electricity, water, road investment, and structures.” For more news and updates, please visit the <a href= http://www.sarangani.gov.ph/ > Province of Sarangani </a>. Come and enjoy the MunaTo Festival and 20th Foundation Anniversary of Sarangani Province on November 28-30, 2012. (Beverly C. Paoyon/ SARANGANI INFORMATION OFFICE)
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