Local Investments and Incentives Code: Establishing a Conducive Environment for Industries and Businesses in Quezon City
The wide-array of industries in Metropolitan Cities like Quezon City serves as one manifestation of a sound policy regarding the promotion of investments and economic development in the locality. But other than that, a concrete measure is still needed in ensuring employment opportunities, increase of revenues and improving the quality of life.
In line with this initiative, the Local Government of Quezon City spearheaded by Vice Mayor Ma. Josefina G. Belmonte arranged a workshop for the Quezon City Economic Development and Investment Board (EDIB) and Technical Working Group (TWG) last May 21 – June 1, 2012.
This event was attended by city officials of Quezon City including Hon. Mayor Herbert Bautista, Vice Mayor Ma. Josefina G. Belmonte, City Councilors and other stakeholders in the field of investments and incentives in improving the investments climate in QC through the harmonization of national and local investment policies which will guide the members in drafting the Local Investments and Incentives Code (LIIC) by virtue of DILG-DTI Joint Memorandum Circular (JMC) 2011-01.
Currently, the 18th City Council is working hard for the finalization of the drafted LIIC together with the different measures and ideas proposed in the two-day workshop in defining the composition, roles and functions of the Local Investments and Incentives Board (LIIB) and the Investments Promotion Center (IPC) in advocating transparency and consistency of investment policies in Quezon City.