Mayor Sara, Isla Lipana ink deal to update Davao City investment code

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Davao City is set to review and update its Investment Incentive Code with the help of an advisory firm.

Davao City Mayor Sara Duterte-Carpio recently signed a memorandum of agreement with Isla Lipana & Co. Inc. for the review of the city’s investment code, which was last updated five years ago.

“It has been five years since the Code was updated and with the changing economic landscape and the many development projects being implemented in the city, we need to keep up and adapt to the trends,” Duterte-Carpio said.

Lemuel Ortonio, chief of the Davao City Investment and Promotion Center (DCIPC), said the signing formalizes the partnership between the city and Isla Lipana.

The review will include the updating of preferred investment areas in Davao City. It will also update the investment incentives that will be offered to potential investors.

Isla Lipana & Co. Inc., a member firm of the UK-based Pricewaterhouse Cooper (PwC) global network, provides a variety of services such as audit and assurance, tax and advisory services within and outside the Philippines.