City to give incentives to investors

CITY OF SAN FERNANDO — Local officials here have proposed an ordinance that seeks to give incentives to future investors in the city.
In a chance interview with Councilor Lito Ocampo, he said the ordinance will help the city attract more investors.
“These incentives will come in the form of tax exemptions. However, there is a time limit to these,” Ocampo said.
Ocampo, also the chairman of the City Council’s committee on trade and industry, said the law only allows business tax exemptions for one year. Still, such tax exemption will probably get the attention of more businessmen to invest in the city.
He said business investments not lower than P3 million will receive the incentive.
The City Council is yet to approve the incentive ordinance. Ocampo, however, said it will be implemented soon.
Aside from the incentive ordinance, Ocampo said the City Government will also enhance its processing of business permits.
“It is the duty of the city government to expedite the issuance of business permits so we will really improve our processing measures,” Ocampo said.

Source: http://www.sunstar.com.ph/pampanga/local-news/2011/04/10/city-give-incentives-investors-149676