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Bacolod City, PhilippinesThursday, March 15, 2012
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Bacolod okay’s changes
in investment ordinance

The Bacolod Sangguniang Panlungsod passed on third and final reading an ordinance amending Sections 12, 16, 17, 18, 32 and 33 of City Ordinance 323 or the Bacolod Investment Code of 2002, during its regular session yesterday.

Councilor Sonya Verdeflor, who authored the ordinance, said the additional preferred investment under Section 12 (c ) include beach and eco-tourism resorts; 12 (d) - business process outsourcing (call center) firms; 12 (f) include technical and vocational (tech-voc) schools and 12 (i) sports coliseum and cultural centers.

Verdfeflor said this ordinanceis a continuing policy of the Bacolod City Government to attract investors, both local and foreign, by maintaining and improving its investments promotions that would generate revenues for the city and employment opportunities for its people.

She said that after almost 10 years since the passage and implementation of the Bacolod Investment Code of 2002, which has benefited the Bacolod in terms of income and employment generations and has made the city as the most business-friendly highly urbanized city of the Philippines, the city continues to grow.

Bacolod has also increased in population resulting to higher demands for work opportunities and basic services and has to cope with the fast-changing technological advancements affecting almost all aspects in the lives and activities of its constituents.

Verdeflor said Bacolod City’s inevitable fast growing economy and tremendous increase in manpower work force call for the transformation of the city’s growth and priority development areas in order to promote for more investors who could meet the capital and employment needs of the city.*CGS

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