Mayor John Dalipe has signed the Zamboanga City Investment Priority Plan 2023-2025, establishing the city’s investment priority areas and investment incentive policies for the next three years with the aim of spurring local economic growth.
Mayor Dalipe, as chairperson of the City Development Council Executive Committee (CDC ExeCom), signed the Investment Priority Plan during a CDC Execom Meeting Thursday, January 5, before endorsing the same to the Sangguniang Panlungsod for the concurrence of the City Council.
The Investment Priority Plan identified 11 priority investment areas. These are: 1) agriculture and agribusiness and fishery; 2) transportation, engineering, and infrastructure, 3) ICT-related services, 4) renewable energy and green projects, 5) manufacturing, 6) public-private partnerships, 7) BIMP-EAGA Trade and Investment Enterprise, 8) tourism, 9) real estate development, 10) halal industry, and 11) malls and retail trade.
Moreover, the plan reduced the total project cost qualifications for the granting of fiscal incentives to businesses and enterprises to P 3M, and for agribusinesses, P 1 M.
This, in order to include the small and medium enterprises in the coverage.
Fiscal incentives were previously granted to businesses with at least P 10M capital requirement.
Fiscal incentives include business tax holidays and real property tax value. Non-fiscal incentives include referral to existing technical assistance programs and opportunities for micro and small enterprises to participate in trade fair, exhibits, entrepreneur development and training, and business matching
The Investment Priority Plan is prepared every 3 years, pursuant to Ordinance 259, or the Incentive Code of 2004, which mandates the Zamboanga City Investment Incentive Board to issue a list of priority investment areas or activities that shall be the basis of the incentives. (Jasmine Mohammadsali)