INVESTMENT PRIORITIES PLAN
Section 8. Investment Priorities Plan (IPP). A list of priority investment areas/ activities shall be prepared and drawn up by the Board, which shall include and contain:
a) The specific activities and generic categories of economic activities where investments are to be encouraged, provided that the following enterprises or undertakings shall be given priority under this ordinance .
I. Labor generating or labor intensive enterprises;
II. Enterprises established in less developed areas as may be determined by zoning ordinance.
III Manufacturing enterprises using raw materials that are available locally;
IV. Manufacturing Plants
V. General Merchandising or consumer-oriented firms;
VI. Export-oriented industries
VII. Tourism-oriented industries
VIII. General engineering and building contractors;
IX. Utility companies engaged in power generation and for distribution, water, telecommunications and those of similar nature;
X. Commercial buildings ( new or expansion );
XI. Housing development whether socialized or non – socialized
XII. Information Technology enterprises
b) Specific public utilities which qualifies for incentives under this ordinance and which shall be supported by studies of existing and prospective regional demands for the services of such public utilities in the light of the level and structure of income, production, trade, prices and relevant economic and technical factors of the regions as well as the existing facilities to produce such services;
c) Specific activities where the potential for utilization of indigenous and non-petroleum based fuels or sources of energy can best be promoted, and
d) Such other information, analysis, data, guidelines, or criteria as the Board may deem appropriate .
The identified Investment Priorities Plan (IPP) may be revised yearly for maximum flexibility as the Board may deem it necessary .
Section 9. Review of Incentives. The board shall review the package of appropriate incentives and support measures every two (2) years. Without prejudice to existing rights of registered investors/enterprises, the Board may, at any time, revise or discontinue the grant of incentives or support measures for any area of activity, if such area of activity places the interest of the Municipality and the public in an adverse position or investments; or such area of activity cannot be attractive within reasonable cost or will result in an unfavorable economic climate .