Body formed to promote trade, investment in South Cotabato

GENERAL SANTOS CITY, Nov. 28 (PNA) -– The provincial government of South Cotabato has created a special body that would handle the promotion of investment and trade-related linkages in the province's 10 towns and lone city.

The special body, dubbed the South Cotabato Investment and Promotion Board, was established through Executive Order no. 21 issued by South Cotabato Gov. Daisy Avance-Fuentes.

Fuentes on Thursday said the creation of the board was provided for in the revised edition of the South Cotabato Investment Code of 1999 that was implemented earlier this year by virtue of Ordinance No. 1, series of 2008.

"The board will mainly set the policies and strategies that will help enhance and hasten the generation of investments and ensure that the province will remain investment-friendly," she said.

The governor acts as the board's chair while the heads of the provincial board's committees on trade and industry and finance, budget and appropriation acts as as co-vice-chair.

The board's membership includes the head of the provincial board's committee on legal matters and justice and representatives from the Department of Trade and Industry provincial office, the Provincial Planning and Development Office and the South Cotabato Chamber of Commerce and Industry Foundation, Incorporated.

According to a resolution that set the approval of the revised South Cotabato Investment Code of 1999, the board was mandated to "formulate a sustaining policy that would encourage and support private investments, consistent with the development thrust of the province."

The board was tasked to "promulgate the rules and regulations necessary to implement the code, taking into consideration the cultural, economic, religious, technological and environmental aspects of the community; review and approve applications for registration not exceeding 30 days upon receipt thereof.”

It was also tasked to “identify and promote investment priority areas and recommend appropriate incentives and support measures; formulate short and medium- term investment promotion plans; submit to the provincial governor the duly approved budget proposals and related expenditures for its operation and exercise other powers and functions as may be necessary for the effective implementation of the code."

The resolution also provided for the establishment of the South Cotabato Investment Promotion Center to complement the board's operations.

Fuentes said the investment board's secretariat is presently managed by the provincial government's Productivity and Technology Center.