Bureau of Local Government Finance Opinion

April 11, 2016 BUREAU OF LOCAL GOVERNMENT FINANCE OPINION 1st Indorsement Respectfully referred to the Board of Investments particularly the Domestic Investment Promotion Center for comment the herein attached letter dated April 5, 2016, of Atty. David L. Galang, Officer-in-Charge of Internal Relations Department of Makati City, requesting for comment on the Makati City Investment and Incentives Code for their final draft preparation. Representations are made that on December 11, 2014, the Sangguniang Panlungsod of Makati, Metro Manila, passed City Ordinance No. 2014-076, an ordinance enacting the Makati City Investment and Incentives Code. It is comprised of fiscal and non-fiscal incentives and programs designed to create and develop a business-friendly environment. Moreover, it is also aimed at enticing new players to invest, and for existing investors to increase their stakes in the City, leading to the generation of employment opportunities, better productivity and overall improvement in the quality of life of Makati constituents. Representations are further made that there is an impending proposal for amendments to the aforementioned Incentives Code hence this request for comment from your Office. Bearing in mind that this issue falls within the ambit of your expertise, this Bureau hereby defers to act on this request and respectfully entrusts this matter to the wisdom of your Office. (SGD.) JOCELYN T. PENDON OIC-Executive Director ATTACHMENT REPUBLIKA NG PILIPINAS Lungsod ng Makati International Relations Department 20th Floor, New Makati City Hall Building April 5, 2016 Ms. Jocelyn T. Pendon OIC-Executive Director Bureau of Local Government Finance Dear Ma'am, This has reference to the attached copy of the Makati City Investment and Incentives Code of 2014. The Code is comprised of fiscal and non-fiscal incentives and programs designed to create and develop a business-friendly environment. This will entice new players to invest, and for existing investors to increase their stakes in the City, leading to the generation of employment opportunities, better productivity and overall improvement in the quality of life of Makati constituents. CAIHTE In line with our impending proposal for amendments to the Incentives Code, we are respectfully requesting your good office to comment on the said Code. Any input from your department will be immensely appreciated for the final draft preparation. For your reference and kind consideration. Thank you. (SGD.) ATTY. DAVID L. GALANG Officer-in-Charge Makati City Ordinance No. 076-2014 December 11, 2014.