CdO biz group seeks capital via tax perks

The Cagayan de Oro Chamber of Commerce and the City Government have enticed various stakeholders to ramp up investments in the city.

During the Cagayan de Oro Investment Forum on Thursday, George Sio Goking, city councilor and representative of CdO Mayor Rolando Uy, said the province now is very business-friendly, adhering to the mandates of the Ease of Doing Business Act.

"We are the first in Mindanao to be commended by the Anti-Red Tape Authority. Also, the business climate in Cagayan de Oro is conducive to investments as we provide enough incentives to our investors. The government is open to the needs of our investors," he said in an interview.

Good business prospects exist in Cagayan de Oro City, according to Goking.

Growth industries
Among the growth sectors are the business process outsourcing and IT-BPM sector.

"We have enough land there to transform into industrial firms. CDO has 60 hectares of land ready for development through private-public partnerships.

To date, the City Government of Cagayan de Oro is offering investment opportunities such as the P4.5 billion Waste-to-Energy Project, a priority urban infrastructure project under the Sustainable Urban Infrastructure Development for Metro Cagayan de Oro; the Commercial Land and Lease at The New City, which already begun with the P25 billion 20,000-unit mid-rise housing project of the Department of the Human Settlements and Urban Development; and P4 billion worth Development, Construction and Operation of the Cagayan de Oro City Sewerage project.

Meanwhile, private company Gedah Holdings, Inc. has also poured in a P27 billion project for the Development of Paraiso Hill, a 39-hectare master planned and mixed-use estate that is part of the East-Uptown Urban Development Area.

Another private firm, Philippine Aerial Ropeway and Cable Transit Corporation has also placed P8.8 billion worth of investments in the development, construction and operation of the Cagayan de Oro Aerial Mass Transit System.