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Tuguegarao City chief bares investment priorities with Chinese investors

GUANGXI, China (PIA) - - The local chief executive of the City Government of Tuguegarao has presented her administration's key investment priority areas with the Chinese investors during the Philippine Investment Forum organized by the Department of Trade and Industry at the 20th China-ASEAN Expo 2023 held in Nanning, Guangxi, China.

Mayor Maila Ting-Que said the city's thrust to be a smart, green, and livable has directed her administration's actions to increase business operations and sustain innovative best practices to make Tuguegarao City an investment window of Northern Luzon.

She said that the city exhibits rapid growth and development in the areas of economic dynamism, government efficiency, infrastructure development, resiliency, and innovation that ensure the provision of a haven for developers, entrepreneurs, and investors.

"We want to implement a competitive and effective tax incentive to investments along the city's investment priority areas on infrastructure, tourism, light industry, waste management, alternative energy, agri-business, creative and knowledge-based industry, and export industries. The city government looks for more possibility to venture into the use of alternative energy and the development of the sector of technological industry," she said.

The mayor also said that Tuguegarao is an investor-ready city that provides a business-friendly environment, robust and diverse human resources, expanding infrastructure, cost-competitive advantages, rich tourism potentials, and the presence of major locators.

"We have one of the widest local tax incentives in the northern region. Additionally, we offer non-fiscal incentives and ease of doing business to would-be investors in our city," Ting-Que added.

The mayor added that Tuguegarao City offers competitive rates for would-be local and foreign investors in terms of wage rate, rent, and utility rates.

“It also has a strong human capital with a 96.2% literacy rate and about 55% of its demography falls between the ages 14 to 49,” she added.

Ting-Que stated further that the city is the center for academic excellence in the Cagayan Valley Region and is dubbed as the home of topnotchers because of its numerous first placers in the local board examinations, particularly in the fields of accountancy, nursing, medical technology, library science, and engineering.

Tuguegarao Mayor Maila Ting-Que presents investment opportunities in her city at the 20th China-ASEAN Expo 2023 held in Nanning, Guangxi, China. (Image by PIA-2)

"Our city is a major urban center and the focal destination of trade and commerce in Northeastern Luzon. It is the heart of the Cagayan Valley Region where the regional government center is located. It offers interconnected road networks, a secondary domestic airport, and other business-friendly amenities designed and built to ensure an active commerce and trade that secures the quick return of investments and profits," she stressed.

Aside from these, she explained that the city can offer bigger opportunities and potentials in low-cost housing, dairy processing, transportation, agro-industrial development, agro-eco-tourism, techno and recreational parks, and convention centers.

She added that the flagship programs in tourism aim to transform Tuguegarao City as a hub in the knowledge-based, food, and health industries.

"Tuguegarao has rich tourism potential and every year, we celebrate the city-wide Pavvurulun Afi Festival to showcase our unique food, music and culture. We also have the top medical centers in the region that provide excellent quality health care," she added.

Aside from the potential investment opportunities, Ting-Que also presented proposed major projects to be undertaken soon including the establishment of a 30-hectare solar farm that can generate 30 megawatts of electricity that is projected to energize 16, 917 houses annually, developing a business park that is envisioned to be the new business hub in Cagayan province, and making Tuguegarao City as the only 'digital city' in Region 2. (OTB/PIA Region 2)

About the Author

Jan Karl Coballes

Regional Editor; Research and Development Officer; Tuguegarao City Information Center Manager

Region 2

Ibanag. Writer. Researcher. Ethnographer. Ethno-historian. Graduate student focusing on linguistic and cultural anthropology.

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