Metro Naga’s untapped potential lies in its diverse rural and urban communities. Cradled within pristine plains, seas and mountains, its total land area of 1,220 square kilometers abounds with a rich variety of untapped natural resources.

        While most economic activities of its members remain predominantly agriculture dependent, the phenomenal growth of Naga City, the heart of Metro Naga, has resulted in greater economic opportunities for its neighbors, particularly in the services and processing industry sectors.



EMPLOYMENT PARTICIPATION
        Employment participation is projected to grow at 3.11 percent annually for the next five years. There is, however, a growing interest in entrepreneurship as indicated by an increasing number of small and medium sized businesses engaged in a variety of activities.

INDUSTRY ASSOCIATIONS
        Many industry associations actively encourage the growth of Metro Naga-based enterprises through capacity building, networking and financing. These include the Producers and Manufacturers Association, the Women Entrepreneurs for Development and Advancement Association, the Metro Naga Chamber of Commerce and Industry and the Filipino-Chinese Chamber of Commerce and Industry. National government agencies, non-government organizations and international funding agencies are equally supportive.

SUPPORT FACILITIES
        The business environment is enhanced by a highly developed financial and business services sector and the presence of modern telecommunications facilities.

INVESTOR-FRIENDLY GOVERNMENTS
        Government at all levels prides itself on transparent legislative processes and quick responses to business inquiries. Furthermore, it views the private sector as the ‘engine to growth’ and actively encourages participation from all members of the community to ensure sustained development.

        Innovative by nature, Metro Nagueños, across the spectrum, can be relied upon in their quest to strive for excellence and the highly productive workforce can really make an investor feel he is in good hands.

INVESTMENT POLICY
        To accelerate the socio-economic development of Metro Naga, it is hereby declared a policy of Metro Naga to encourage local and foreign investments in priority areas as specifically identified by its member LGUs, particularly those which promote complementation among them.

        To promote such priority investment areas that will cause relevant and positive economic improvement in the lives of the people in the communities of Metro Naga measured in terms of:

        • providing employment opportunities
        • promoting equitable and sustainable development
        • utilizing and complementation of local raw materials and natural resources resulting in high value added products and services

        Further, Metro Naga shall provide an enabling and investment secured environment for the private sector that will mobilize it to lead and participate and be the area’s “engine of growth” to power various economic activities that will:

        Improve the quality of life of the people of Metro Naga

        • Promote the optimum and wise use of its natural resources
        • Create a platform for the production of competitive products and services.

Incentives Available in Metro Naga’s Investment Priority Areas/Activities
        Metro Naga’s local governments have their own investment incentives codes which broaden the coverage of national investment policies. They have simplified their system of regulation, licenses and permits - easing entry to key sectors of their economies. Foreigners are welcome and treated without discrimination and their investments are protected by transparent regulatory policies administered in a most expedient way.

National Investment Incentives Applicable to Metro Naga
        An atmosphere of nurturing growth characterizes the country’s regulatory environment, which has clearly articulated policies designed to assure a ‘level playing field’ in development.

        This welcoming philosophy is reflected in the Philippine Constitution, which guarantees the rights of investors. Laws and regulations provide a transparent regime allowing the business sector to grow and compete globally. Next week we will continue with the Cost of Doing business in Metro-Naga and Camarines Sur.