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[av_heading heading=’Local gov’t plans biz incentives in Malay ‘ tag=’h3′ style=’blockquote modern-quote’ size=” subheading_active=’subheading_below’ subheading_size=’15’ padding=’10’ color=” custom_font=”]
BY BOY RYAN ZABAL
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KALIBO, Aklan – To boost investments, the Sangguniang Bayan (SB) of Malay, Aklan plans to grant incentive packages to businesses.
Giving incentive packages will encourage investors to put up businesses in the town, SB member Floribar Bautista said.
The proposed “Malay Economic Investment and Incentives Code” will provide fiscal incentives, such as exemption from business and real property taxes for a number of years depending on the capitalization, Bautista said.
Under the proposal, other benefits for registered enterprises include licenses, local permits, labor recruitment, and technical and financial assistance from the local government.
SB member Jupiter Gallenero said there must be a committee hearing to discuss the proposal.
The local government must also designate an economic zone or an investment site, SB member Dante Pagsuguiron added.
“Boracay tourism is a 30-year-old industry and the developments should have already trickled down to mainland Malay by now,” Bautista said.
The first-class municipality of Malay has 17 barangays, three of which are in the world-famous island resort. (Aklan Forum Journal/PN)
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