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Local Investment and Incentive Code
OCCIDENTAL MINDORO INVESTMENTS AND INCENTIVE CODE (OMIIC)
Introduces and Sponsored by: HON. SONIA C. PABLO, Chairman Committee on Commerce, Trade and Industry
ORDINANCE NO. 57
Be it enacted by the Sangguniang Panlalawigan of the Province of Occidental Mindoro is session duly assembled, that:
TITLE AND DECLARATION OF POLICY
Section 1. Title – This ordinance shall be known and cited as the OCCIDENTAL MINDORO INVESTMENTS AND INCENTIVES CODE (OMIIC).
Section 2. Declaration of (Investment and Incentives) Policy – It is hereby declared as a policy of the Provincial Government to promote and encourage domestic and foreign investments in the Province of Occidental Mindoro. Along this line, the following are the investment policies of the province:
a.) To encourage investment projects that utilizes local manpower resources and sustainable use of indigenous raw materials and other natural resources of the province;
b.) To promote the optional utilization of available natural resources within the context of sustainability, environment friendly, economically sound and natural resources management enunciated in the Occidental Mindoro Environment Code;
c.) To attract and encourage long-term investments in priority areas; such as, ecotourism, agri-business, services and other activities that shall significantly contribute to the socio-economic development of the province;
d.) To promote Occidental Mindoro Province as a competitive investment destination in the Asia Pacific region and other global markets;
e.) To encourage investments in business activities that shall provide livelihood and employment, promote gender equality, women empowerment and children’s welfare and shall comply with labor laws and other legislations, to improve the quality of life and assure that the benefits of development accrue to the people of Occidental Mindoro;
f.) To promote the development and marketing of Occidental Mindoro products for optimum productivity of local enterprises, that shall enable local communities to attain self-sufficiency:
g.) To promote the active participation of non-government organizations, the private sector and civil society in general, as partners and catalysts in achieving the development goals of the province; and
h.) To provide incentives (fiscal and non-fiscal) to enterprises with significant contribution to the economic development of the province.
Section 3. Scope and Coverage – The provisions stated herein shall apply to all persons, entities or enterprises, government, non-government and people’s organizations and instrumentalities to the extent provided in the Code.