To entice more investors, the City Government of Davao – through the Davao City Investment Promotion Center (DCIPC) – is granting fiscal and non-fiscal incentives for those investing in the city.
Under the Davao City Investment Code of 1994, investors in the city are entitled to several local tax fiscal incentives including three years of business tax exemption, two years of real property tax exemption, and three years of Mayor’s permit fee exemption.
Investors who opt to invest in the city’s preferred investment areas such as agribusiness, tourism, health, light manufacturing, property development, technology, inclusive business activities, infrastructure, eco-industry, and education are entitled to five years of business tax exemption, five years of real property tax exemption, and five years of Mayor’s Permit fee exemption.
The non-fiscal incentives include investment counseling and business matching, business information and data banking, processing of local permits and licenses, and referral for manpower and raw materials sourcing.
Investors may avail of these incentives so long as (1) the investment falls under the preferred investment areas; (2) new enterprises with a capitalization of at least P3 million and must have at least 10 employees from Davao City; and (3) existing companies that plan to expand must locate their new facilities in the city, with a project cost of at least P3 million and must have employees of at least 20 people from the city.
Interested investors are advised to contact the Programs Officer, Ms. Irene Martelino, through these numbers: 09178580398 and (082) 285-5750 local 301-305. They may also send an email to irenemartelino.dcipc@gmail.com or dcipc@davaocity.gov.ph. CIO
