The City Council, during last Monday’s regular session, approved on first reading a proposed ordinance creating the Local Economic Development and Investment Promotions Office (LEDIPO) in the city.
Under the proposed ordinance, the LEDIPO shall be in charge of the facilitation, preparation, coordination and execution of local economic development and investment promotion policies, programs, projects and activities.
Further, the LEDIPO shall take charge of all activities related to city government investment facilitation and promotion activities, local enterprise development, establishment of support mechanisms for the growth of micro, small and medium enterprises (MSMEs), provide mechanisms for business relations and expansion and other business and economic activities to attract investments and generate employment.
The ordinance stipulated that the LEDIPO shall be headed by the Local Economic Development and Investment Promotions Officer.
The LEDIPO shall serve as member of the advisory group that will guide the local government for investment promotions; steer the creation of a business enabling environment to attract, retain or expand investments; advocate and promote policies and practices that will encourage local investments; in close coordination with the City Planning and Development Office, identify revenue-generating and enterprise development projects of the local government which may be implemented by the private sector through private-public partnership arrangements; provide support and facilitation assistance for prospective and new investors; establish and maintain a local economic database containing relevant facts and figures on the local economy to be able to provide information about business potentials of the local government; conduct mission trips in relation to promotion and marketing activities of the local government to attract investments; assist in the promotion and development of MSMEs in the city as well as all other potential investments; establish and maintain partnership with regional offices of the National Economic Development Authority, Private-Public Partnership (PPP) Center, Department of Trade and Industry (DTI), Board of Investments, National Competitiveness Council (NCC), Department of Science and Technology (DOST), Department of Finance (DOF), bureau and attached agencies among others; represent the local government in trade and investment meetings, conferences and other similar activities in both domestic and foreign venues and prepare and disseminate investment promotion collaterals.
The corresponding and appropriation in order to provide financial support for the discharge of the functions of the LEDIPO shall be authorized through an appropriation ordinance to be enacted for the said purpose.
The ordinance explained that the presence of a LEDIPO has been established as one of the indicators in the Seal of Good Local /governance under business friendliness and competitiveness essential area, thus, the designation of a LEDIP officer in all provinces, cities and municipalities with the establishment of its corresponding office or unit is deemed necessary to encourage more investments and competitiveness in the locality to sustain economic development consistent with DILG Memorandum Circular No. 2020-167. By Dexter A. See
