The Department of Trade and Industry – Cagayan recently conducted two-day “Capability Building Training on the Formulation and Updating of Local Investments and Incentives Code (LIIC)” on 19 – 20 September 2019 at Balai Carmela Hotel and Resort, Carig Sur, Tuguegarao City, Cagayan.
The training aimed to provide Local Government Units (LGUs) with a guide in the formulation and updating of their LIICs to encourage the inflow of local and foreign investments especially in priority areas/industries. The LIIC is seen as a tool to define the economic development thrust of LGUs to hasten the promotion of new areas for industrial and business development thereby attaining the LGU’s socio-economic objectives and contributing to provincial, regional, and national goals.
In his Opening Message, Dr. Leonardo P. Urata, DTI Chief Trade Industry Development Specialist, thanked the participants for participating in the training. He shared that despite the presence of a DILG – DTI Guidebook in 2012, some LGUs still do not comply with the framework. Dr. Urata then emphasized that the training hopes to provide a basis in the drafting of an LIIC that complies with the guidebook.
EnP Charles Irvin P. Tagarino, Senior Trade Industry Development Specialist, then delivered a lecture on the “Investment Promotion Essentials and the Needs of Investors”. He noted that the needs of the investors should be considered by the LGUs in their efforts to promote their locations. EnP Tagarino also said that while identifying their Investment Priority Areas (IPAs), LGUs should prepare key information and interventions regarding the identified IPAs.
Lectures on “Investment Promotion Framework of DTI Region 02”, “Fiscal Incentives”, “LIIC Framework”, and “Best Practices on Investment Promotion of Tuguegarao City” further ensued as well as workshops on “SWOT Analysis”, “Determination of Fiscal Incentives and IPAs”, and “Action Planning”.
In closing, EnP Tagarino expressed his gratitude to all participants and their Local Chief Executives for taking significant steps in improving their business and investment climates because LGUs are the trailblazers in investment promotion. He also expressed his hopes that the LGUs will move towards operationalizing their LIICs to realize a more progressive and prosperous Cagayan in the near future.
The training was participated by Sangguniang Bayan members, Municipal Planning and Development Coordinators (MPDCs), Local Economic and Investments Promotion Officers (LEIPOs), Municipal Treasurers, and other personnel from the following LGUs: Allacapan, Aparri, Baggao, Claveria, Lallo, Penablanca, Rizal, Sanchez Mira, Santa Ana, and Tuao.