BACOLOD CITY — Bacolod City Mayor Greg Gasataya said that the partnership forged between the city government and SGV & Co. will result in attracting more investors to the city.
The partnership launching and ceremonial Memorandum of Understanding (MOU) signing ceremony between the City of Bacolod and SyCip Gorres Velayo & Company (SGV & Co.) was held recently at the mayor’s office.
SGV & Co. was represented by its chairman, Wilson Tan, and Noel Rabaja, deputy managing partner.
This partnership, in coordination with the Department of Local Economic Development and Investment Promotion (D-LEDIP), seeks to strengthen Bacolod City’s investment promotion initiatives and foster a more vibrant local economy, Gasataya said.
SyCip Gorres Velayo & Company is a general professional partnership duly organized and existing under the laws of the Republic of the Philippines.
The MOU states that SGV has known competence, technical knowledge, expertise, and experience in promoting the Philippines to foreign investors as an investment destination, including through its publication “Doing Business in the Philippines,” an investment guide on doing business in the country.
It provides an overview of the Philippines’ social, political, and economic climate, and presents important information on the country’s assets and strategic positioning that can be useful for investors who plan to set up business in the country.
It showcases not only relevant historical and statistical data on the economy but also lists and discusses key pieces of legislation that govern business transactions in the country.
On the other hand, Bacolod City intends to replicate the same concept of publication to showcase the LGU as a rich source of investment opportunities for both local and foreign investors because of its strategic location, skilled and highly educated human resources, diverse local products, excellent infrastructure, a sound peace-and-order situation that supports commerce, reasonable local business tax rates, and efficient government services in the LGU.
It further states that the LGU shall provide all the content and relevant information to be included in the publication.
The LGU shall be solely responsible for the veracity, accuracy, and completeness of the information to be presented in the publication or work product.
The LGU shall hold SGV free and harmless of any responsibility, and SGV cannot be made to accept responsibility for any claim or loss, whether imputed, potential, or actual, arising from any inaccuracy in the information presented or arising from printing of the publication, either in whole or in part.
In providing the services, SGV shall rely upon the relevant information provided by the LGU and its understanding of current Philippine tax laws, regulations, rules, and issuances of the relevant tax authorities before completion of the services.
Gasataya said SGV is able and willing to provide free technical assistance to the LGU in the conceptualization, design, coverage, and publication of “Doing Business in (LGU)” in printed and digital versions.
Gasataya said the city government will create a technical working group that will work with SGV on the investment brochure for the City of Bacolod.
On his part, Tan said that their commitment to the City of Bacolod “is certified by our long years of presence here,” adding that they continue to maintain their office in this city.