Great news for all businessmen who are planning to invest in the municipality of  Jabonga . An ordinance has recently been passed offering huge incentives to  investors.

The Sangguniang Bayan of Jabonga by virtue of  Municipal Ordinance No. 71-2009, has established its Investment Incentive Code for this purpose.

Author SB member Jimmy M. Dejolde said that this code aims to increase employment opportunities, new investment and expansions, and gain sustainable development by extensively drawing investors into the municipality by providing them incentives to spread the development to the undeveloped and underdeveloped areas of the municipalities.

“The incentive will cover local and foreign entrepreneurs to invest in Jabonga to boost its economy. From the start of commercial operations, investors under the preferred areas of investment shall be exempted from payment of the forty (40%) percent of the Local Regulatory Fee due to the municipality,” he said.

Qualified investors include: Small-Scale Partners with a capitalization of P 2.5 M to P 10 M, which has at least 10 workers - three (3) years exemption; Medium- Scale Partners with a capitalization of P 10 M to P 25 M, which has at least 20 workers - four (4) years exemption; and Large-Scale Partners with a capitalization of P25 M and above, which has at least 25 workers - five (5) years exemption.

Requirements for the availment of the incentives are: a.) Copy of the project study; b.) The partner shall have no delinquent obligation with the municipal government; c.) The partner shall submit a certified true copy of the business name registered with the Department of Trade and Industry (DTI) if single proprietor, a certificate of registration from the Securities and Exchange Commission in case of  corporation, and a certificate of registration from the Cooperative Development Authority in case of cooperative; and d.) Payment of non-refundable application fee to the municipal treasurer’s office on the following: a. Small – scale - P 5,000.00; b. Medium – Scale - P 7,500.00; and c. Large – Scale - P 10,000.00.

          The Sangguniang Panlalawigan through Hon. Rey G. Jamboy has already approved the incentive code for its immediate implemen-tation. (BFCeballos)