DTI, DILG to work for better local business environments

The Department of Trade and Industry has partnered with the Department of Interior and Local Government to work on ensuring that business environments in local government units nationwide are “conducive to investments,” Trade Undersecretary Cristino Panlilio said Tuesday. The departments recently signed a joint memorandum circular on the formulation of a Local Investment and Incentives Code. The DTI's Board of Investments will support the DILG in assisting LGUs review their LIIC, investment priority areas, and investment promotion activities such as investment conferences, business matching sessions, and investment missions. The BoI has conducted 17 trainings on capacity building on investment promotion with LGUs to date, particularly in LIIC crafting and the operationalization of investment promotion centers. “For this year, we are also targeting 11 investment roadshows, which are primarily intended to provide venue for presentation of the approved Investment Priorities Plan,” Panlilio said. The DTI is also preparing for InvestMart, an international investment conference and exhibition tlater this year. “In preparation for this flagship project, we have enhanced InvestMart’s concept paper and negotiated for partnership with a leading industry association last year. We have also worked with industry players and associations in identifying potential investment areas and sectors for promotion such as the public private partnership, pharmaceuticals, electronics, copper, and auto parts and components,” Panlilio said. — BM, GMA News