According to a December 12 report by MindaNews, the Davao City Council approved landmark amendments to the Davao City Investment Incentive Code of 1994 on December 12, marking a comprehensive upgrade of the city’s investment policy aimed at creating a more competitive and attractive business environment.

The amended Code expands major fiscal incentives for qualified investors, extending the Business Tax exemption from three (3) to five (5) years, the Real Property Tax (RPT) exemption from two (2) to three (3) years, and the Mayor’s Permit Fees exemption to five (5) years. New incentives were likewise introduced, including a four-year amusement tax exemption and a land tax exemption of up to ten years for eligible commercial and fruit-bearing tree plantations,further supporting commercial growth and agro-industrial development.

Enhancements were also introduced to the sub-activities under the 10 Priority Investment Areas, highlighting opportunities in innovation, exports, food manufacturing, healthcare waste management, and electric vehicle (EV) distribution. These improvements align the city’s economic priorities with global trends in technology, sustainability, and advanced manufacturing.