Antonio Uy, president of the Cagayan de Oro Chamber of Commerce and Industry, Foundation Inc. (Orochamber) has called on all local government executives (LCEs) in region 10 to enact business-friendly policies and ordinances.
In a dialogue held Wednesday with the officials of the municipality of Villanueva, the OroChamber chief echoed the major concerns of potential locators on fees and licenses duplication and processes.
“By business-friendly policies and ordinances, we mean that potential investors should not be overly taxed and subjected to go through protracted processes in registering their business and even in maintaining existing plants,” Mr. Uy shared.
It is even advisable to come out with a revenue code as this will serve as a ready blueprint guiding every interested locator on the things to accomplish and to be paid for.
But just like any other blueprint, a revenue code should be well-founded and well-researched to avoid duplications that can dissuade possible investors, Uy said.
For his part, President Ruben Vegafria of Promote CDO Foundation said that in cases where there are duplications, businesses will review other options.
“Chances are, investors would go to other areas supportive of their profitability and sustainability goals,” Vegafria added.
Also present during the dialogue were other business organizations , such as, the PHIVIDEC Industries Association, Misamis Oriental Filipino Chinese Chamber of Commerce, Inc. (MOFCCCI). [PIA 10]
