Councilors Leandro Yangot Jr., Benny Bomogao, and Mylen Victoria Yaranon have filed a proposed ordinance establishing the Local Economic Development and Investment Promotions (Ledip) Office.
The proposed ordinance cites Department of the Interior and Local Government Memorandum Circular 2010-113, which encourages governors and mayors to appoint local economic and investment promotions officers (LEIPOs) to attract investments and boost local economic activities.
The proposed ordinance explains that the presence of a LEIPO is recognized as an essential indicator in the Seal of Good Local Governance (SGLG), particularly under the Business-Friendliness and Competitiveness Essential Area. The LEIPO will lead the Ledip Office.
As outlined in the proposed ordinance, the Ledip Office will be established to facilitate, prepare, coordinate, and execute local economic development and investment promotion policies, programs, projects, and activities within the city.
The office will also oversee activities related to investment facilitation, local enterprise development; support for micro, small, and medium enterprises; business retention, expansion, and other economic activities aimed at attracting investments and generating employment.
The Ledip Office will consist of units such as economic enterprise unit, tasked with formulating plans for new economic ventures and coordinating public-private partnership projects. The business development unit will oversee trade and industry functions, promote local trades, conduct research on product development, and facilitate networking among MSMEs.
The investment services unit will evaluate applications for incentives, assist clients in finding business partners, and prepare investment-related documents.
These units will work together under the Ledip Office to drive economic growth, support local businesses, and attract investments to the city.
Upon its enactment, the ordinance will repeal Chapter 2 of Ordinance 13, s. 2019 which created the Baguio City Investments and Incentives Board (BCIIB). Any references to BCIIB in the previous ordinance will now pertain to the Ledip Office.
The proposed ordinance has been approved on first reading and referred to the committee on appropriations and finance cluster C for review. – Jordan G. Habbiling
