THE country’s Hall of Fame Most Outstanding Chamber of Commerce, the Cagayan de Oro Chamber of Commerce and Industry, is appealing to all local chief executives in the region to help promote investments.
The only way to lure businesses to relocate here in Northern Mindanao is by offering them matching incentives, the Chamber said.
The costs of doing business must be competitive if not cheaper compared with the other super regions in the country.
An officer of the Oro Chamber shared that investors shy away especially with double taxation.
It is important that the local government units (LGUs) must be able to attune their policies and ordinances with that of the National Government. For instance, LGUs should not be charging building inspection fees anymore if the same are already covered by the National Building Code.
Business permit fees should also be affordable. Fees should be tantamount to the actual staff time and logistics used to process business permit applications rather than on the drive to raise more funds for the LGU.
LGUs need to raise financial resources should not hamper the significant strategy of inviting more investors for the supreme goal of generating the much needed employment and income for everyone as contained in the Millennium Development Goals.
“We should not be complacent,” the Chamber Officer said.
“It is not enough that Northern Mindanao is the fastest growing region in the country and the most resilient regional economy at that. We need to get our acts together to sustain this growth we are enjoying now by making our region not only the best place to live in but also the best area to do business,” he said.
The investment promotion milestones and challenges of Northern Mindanao will be among those that will be presented during the 19th Mindanao Business Conference this September, with Oro Chamber as the host chamber. (Press Release)