THE MARIKINA CITY INVESTMENT CODE OF 2004

rq SANCGUNIANG PANLTJNGSOD NG MARIKINA ORDINANCE No, I75 Series of 2003 ORDINANCE ADOPTING THE MARIKINA INVESTMDNT CODE OT 2OO4 Idtroduced byr Couocitor LEA ASTRUD T. SANTIAGO Co-Sporsored by: Courcilor UILARIO A. PUNZALAN rnd Councilor LEANOR F, CARLOS y{EryAl, the City of lr4ariklna inspired by the succ€ss story of Singapore is determined to become a LEAD CITY in business unA Alr.fop."m fo, tn" b€nefd of its p€ople; ""ono-i" WIIEry,A.., its AGENDA is to prioritize iNeshneDt tlur would stimulate a-n-d enhance economic development th€reby generdting emptoy-"nt, urnoog otl,ui tt ingr; WHEp*AS] forgiDg of coopentive allia.nces between the government and rhe private wi sector 0ocal Tq fo::iCn entiries) greally heip mafe MLrum Ciry to become the nen Dusmess hub ofth€ EEtropolis: it WHEREAS, is then imperative to come up with investmeft_Aiendly laws and policies to attract and provide inc€ntives to investors without compromisiag the wel&re of the people of Marikina; WHEREAS, the enactment ofa l\,tarikina lnvestmeft Code is deemed nec€ssary not orly l:-:.:" i,,.."Ii.C .dg: for a sustaimble-economic growrh but atso m provide rnstrurneffs that will make tbe Chy an effective link to globei trade/economy. NOW THEREFORE, BE rT ORDAINED AS 1T rS HEREBY ORDATNED bv the CITY COLTNCIL OF MARIKINd in session duly assembled: I CqAPTER GEMRAL PROVISIONS SICTION 1. Title. This Code shall be known as ,.The Marikina City In!€st1nenf Code of 2004" :I9IOT1 Dcctrrstiotr of poticy. Through rhe Marftina City Invesrmenr Code, rhe r4aru<|'la Llty Uovernment is to adopt and impose necessary policies lo provide a cloar_ cut. and comprchensive action plans ard invistment guide'ltnes that lvJJA u souc toundation tor a sustaiDable socio economic grofih. The City Govemme" nr tt * wf ii lr l f n, ot only_ endeavor to render basic s€rvicgs to its ieople but ufri ,"" t it tnut arery Marikeflo e4ioys a quatity of life that would giue him a sense otseti;;rt[ i;";., ORDINANCENo. Series of 2003 Pagez of discipline ard responsibility as a 1aw abiding citizen and a stakeholder in all the pograms ofthe City Covemment. The City Gove.nrnenl of Marikin4 determined to realize the vision ofmaking Marikina a little Singapore, shall pursue a physical developmert that would take into consideration esseffial elements such as ensuring good access between and among different areas ofthe City, outlining ard creating programs that will provide good govemance, corupt-fee govemment, healthy/sound envirorment for human ald economic development and better access between and among the different arcas ofthe City. SECTION 3. Coverage. The Marikina City Investmert Code provides guidelines, strategies and incedive schemes to entice new Local and Foreign Entreprefleurs to largely and permanently invest in Marikina City. Hence, it shall create pilla$ that would forge and reap solid/stong partnershipValliances with new local capitalists and foreign investors that would boost the economy of the city, These partnerships/alliances will certainly augment emplolment opportunities, increase the quality ofcra{tsmanship ofthe workforce, invigorate consume$ interest, and improve technology and other support services. It shall pave the atmosphere for a young City to be tlre next business center of bodr domestic/regional and intemational trade. This Code shall be in consonance with tlre standards set by tle existing 1987 Philippine Omibus Ilveshnent Code, regulations of the Departmed of Trade & Industry, Deparhnent ofTourism and shall be in conformity with the l99l Foreign Irvestment Act, Retail Trade Liberalization Act of2000 and other related national laws ofthe land. SECTION 4. DEFINITION OF TERMS. A. The "Board" shall mean the Board of Directors of the Marikina Investment Board (MB) as created pusuant to the Marikina Investment Code. B. "Registered enterprise" sha11 mean any individuaVsingle proprietomhip, partnership, cooperative, corporation or other entity incorporated and/or organized, duly registered with the Security and Exchange Commission with a legitimate license to operate business, The corduct of business to be apprcved by the MIB shall conform with existing national laws a.nd local ordinances. The term registered enterpdse shall not include those mentioned under Article 11, Book 1, Chapter l, ofthe 1987 Omnibus Code otherwise known as Executive Order No. 26. C. "Foreign loans" shall mean any credit facility or fiaancial assistance other tllan equity investment denominated and payable in foreign currency or where the creditor has the option to dqnand payment in foreign excharge rcgistered with the Central Bank ard t}le Board of I[vestment, D. "Foreign Investment" shall mean equity investment owned by a non- Philippine national rnade in the form of foreign exchange or other assets actually transferred to the Philippines and registered with the Centlal Baok and tle Board oflnvestmert which shall assess and appmis€ the r,alue of such assets other than foreign exchaage. D. "Philippine nrtiotral" shall mean a citizen of the Philippines or a diplomatic partne$hip or association wholly owned by citizens ofthe Philippines; or a corporalion/ a l ORDINANCE NO. 175 I Series of 2003 of t2 Page 3 orsanized under the laws ofthe Philippines $hich at leasl 600/0 of the capiral stock F r,. u " "P " r ae "fe "ir .r "e ad aff se a sus c ho f i nIn av ce cs ot rm dae nn cet" wsh ita hll tr 1e rf ce r I n1 v0 e e sc tmon eo nm t i pc r ia oc rit tiv yi ti pe ls a nth s a (t m th ee a nM inI gB its h ha al sl been Jeemed by the board as economically, technically and financially sound)' ) G ;;. f ;" ;P ,i oneer pen ."te "ir tp i"ri gse , " os r h pa rl ol dm ue cta ion n a a r ne dg i nst oe tr e md e e ren lt ye r ip nr i ts lre e th asa st: e m(1 b) ly e n og r a pg ae cs k ii nn g th oe f I ooods- oroduits. commodities or raw rnaterials that have been or are not being produced ir;;il;;;;" scalei and-/or (2) uses a design' lormula' scheme' method nrocess or svstern" . o;e f r pc roi da ul c rion or transponation of ary element' subslance or mw h f;"_*r ii"lrrr"a e..a, which is Dew and untded Marikina; and/or (3) produces oorr-"on o", " otio*f fu-els or marufrctures equipment which utilize non-conventional ;;;;;i;;"tgy in its productioq manufacturing or processing operatiom That the oioao"tion oftft" futuf produos in any ofthe foregoing instances involves the substantial use and processing ofraw materials. H. *Non-pioneer enterprise" sball include all registered producer enterprises oth€r than pioneer enlerprises. of existing volume or I "Exprnsion" sball include modemizatior/rehabilitatior/increase -aloi upgrading ofthe quality ofthe-registered product or utilization " o" iir nr e" ff" icii 'p iei n" tJ o" r" i i" d" le equipmint under such guidelines as the MIB may adopt' J. *processitrg" sha11 mean converiing a mw rnaterial- or'.any rTleli1\ inrq marketable i"t. ir""tth phyti"a, mechanical, chimical, electrical, biochemical' biological or other means or special teatnent or a sedes of actioDs such as slaugtrtering' milling' ;;;d,";ilg ;i Jesiccating, quick fieezing, among others' resulting to a change in the natue or state ofthe Prcducts. II CHAPTER TIIE MARIKINA INVESTMENT BOARD SECTION 5. The Morikina Investment Boefll (MIB) is hereby created to be City Mayor as its chairperon, the c y Administrator as its vica- " L" ri tp ^i" r-. "" ri l " ,ri ri "f ti"i y iouncilor Chairperson of th" cottitt"" on Trade' Commerce and loJo.t*. ,ft" Chv Councilor Chairperson ofthe Committee on Ways and Meals' the ;;;#;h" iiljkil" c;lt*d rouriim Trade & Investment Promotions office' the head itt" lltiti* City Development Authority' the head of Marikina Bankers " l.i * "t"tt"t Ogel,,i" head oithe Marikina Valley Chamber of^ t Ch oe m merce & Industry iuviiii -ir rt"aj lrithe Marikina Chinese chamber of cornmerce as Members hodv that is rasked to regulate, promore and monilor investments in the City ofMarikina' il;;-;tt.h -O i.opugut" resolute and auspicious policies tiat would attract iovesto$ and Fovide them with support services' It slBll conduct quarterly meetings. However, tie Chairperson ofthe Board or upon tlle "iln":"ity "r ORDINANCENo. Series of 2003 Pa4e4 of members of tlre Board shall constihJte a quorum (1/2+l). The affirmative vote ofthe majority ofthe Board members in a meeting validly held shall be deemed necessary to 1, To screer! review, evaluate, approve or disapprove applications/ilvestmeot plarls of prospective locaVforeign bushessmerVentrepreneurs who would want to avail ofthe incentives provided by this Code, 2. To closely monitor the pedormance of the approved locaVforeign investments for a period ofat least five (5) years, 3. To enler into agreements/contracts with other government agencies and or pdvate organizatiois that would provide any form ofassistance (financiaytechnicav- oth€rs) and or cause to expedite tansactions and procedures in putting-up a business in Marikina. 4. To conduct hearing on issues conceming possible violations committed against any provisions of this Code and likewise, invoke the proper sanctionVpenalties (such as but rct limited to repdmand, cancellation of license, withholding of benefits or incentives) to all violators ofary o the terms and condilions stipulated in the Marikina lnvestment Code. 5. To recoomend and assist the Omce ofthe Mayor ard various depa.rtrrents ofthe City covernment in idenifiing areas of suitable INVESTMENT HUBS tbal would propel Marikfura into an intemational trading arena. 6. To designate a Business One-Stop-Shop (BOSS) that would expedite the processing of docurneds/papers of approved applications/investmeat plans. 7. To integate and regulate ths existence of similar businesses tllat cater to the rnarket, so as to encouage the diversity of world class products/ services that would efiice not only tlre ingenuity of our worl6rce, but also cajole the locaVforeign consumers to coNtantly buy and try new products. 8. To qeate technical working groups (TWGS), ad-hoc committees or task forces to handle specific tasks as may be rcquircd by the Board such as but not limited to researcvinvestigatior/paralegal works, promotions and public relations work trio-media campaigns, propaganda and gimmicks. 9. To actively pa.rticipate and join in multilateral and regional or intemational su[ultits wherc bilateral efforts arc made with locaVforeign govemments and prir"ate organizations on issues rarging fiom information tecbnology, trade liberalization, investment, loans and giarrts. 10. To recormend to the City Coucil, amendments/rcvisions/ modifications to the existing Investment Code, particulady the Special lnvestment Plar that iocludes incentiles being given to investors. SXCTION 7. Atr Advisory Board ofthe MIB is hereby created to be composed ot, but rct limited to, th€ following representatives: City Iagal Officer, official reprcseotative of th€ Department of Trade and Industry, offaial representative of the Board of lnvestments, official representative of the Departrnent of Tourism and an official repres€ntative ofthe National Economic and Development Authority. The Advisory O Series of 2003 5 of l2 Page BoardsballftomtimetotimebeconveredandconsultedbytheMlB,regardinglegalilies and technicalities involved in the proper implementation of the Marikina Investment Code, and so as 10 avoid uhra-'rires acls. CHAPTER NI SECTION 8, The Marikina Cultural Tourism Trade and Investm€nl Promotions Office (MCTTIPO) is hereby created to merge the Department of Cultural Affairs with the Department ol Tourisnq Trade and Industry and adding a Marketing arm- the lnrestrnenl Promolions Di\ ision. The MCTTIPO shall be the implementirg alm ofthe Madkina Investme4t Code lt shall also serve as the technical secretariat of the MlB. It shall oversee and ensue the effectivity of the Special Investment Plan. It shall see to it that procedural rules and requirements for asiistance (technicaVfinalcial), grantVloans and incentives given -other by other national agencies ard/or pri\'ate organizations are strictly followed by the chosen itrvestors. Specificalln the MCTTIPO shall have the following functioN and responsibilities: ( 'a -) To prepare and formulate plans and programs and devise strategies and systims for the effective implementation of the Marikina Investment Code' of (b) To handle the administrative and operational management the Implementing Rules and Regulations (IRR) ofthe Marikina Investment Code' (c) To prepare a,1ld establish a data base of local resowces and rranpower that may be necessary in the promotion oftourism and investrnent. (d) To-undertake publicity ard promotiotal progarns and projects to boost local tourism and athact prospective investors through dissemination ofadvertising matedals, setting up oftrade fairs, trade missions, among others. (e) To establish and administer research, tmining and productivity centerc for product development; upgrade manpower skills; and acquire advanced infomation technology on market knowledge and industrial skills' (0 To assist in the establishment and zupervision of productive livelihood projects that can provide income to th€ unemployed and financially- handicapped families. (g) To coodinate and seek the assistance of other govemment and non' govemment organizations to promote local tourism and publicize areas of local investmed. (h) To conduct joint commercial and trade activities wfth local manufacturerVproducers and non-govemment organizations so as to prcmote local industries and create bilateral financial return. (i) To secure and obtain financial grants and/or technical assistance fiom national oi intemational institutions or foundations for the enhancement of local tourism ald investment promotion. O' To prepare and make available at all times all documents. inaterials and relevarri info(ration relative to tourism and investment, as may be required during presentations, meetings, and investmed researches. (k) To prepare and submit regulax reports to piovide updates on the status of tourism/trade-related activities, local economic scenario and prepare local X ORDINANCENo. Series of 2003 6 of Page 12 economic statistical reports in coordination with the diffelent departments and omces ofthe Cily Goverfinent. (l) To perfonn such olher functions ard duties as may be prescribed by the Marikina Investment Board and by the Office ofthe City Mayor. The head or chief of ofiice of the MCTTIPO shall be designared or appointed by the Local Chief Executive. The personnel ofthe Office ofrhe Marikina Cultual Affairs and the Office of the Marikina Tourism Trade and InvestfiEnt shall be absorbed by the MCTTIPO, The budget allocations for the aforesaid offices shall be incorporated to the funds allotted for the administrative ard operational managemeft of the MCTTIPO. An anaual appropriation to cover the operation and personnel-related expenditures of the MCTTIPO shall be included in the preparation ofthe annual local executive budget. CIIAPTER IV SPECIAL IN'T/ESTMENT PLAN (SIP) SECTION 9. The Special Investment Plan (SIP) - It is an extensive/over-all ECONOMIC (trade, corrmerce, industry and tourism) development plan that would be implemented tlrough the conoborative eflorts ofthe City Govemment, the prilate s€ctor (investors/entrepreneurs) and the communities. It shall cover the proper and stdct implementation ofthe Comprehensive Urban Larrd Use Plal necessary for the growth of commerce and industry in Marikina without compromising the moral values a1rd cultural heritage of its people; the augmentation of the City's natural resources tlat are constantly being developed for rest and recreational activities; the resolute enlanceme of aesthetic distinctiofl and good taste; and a wide a.ray of attractive incentive schemes for iovestors, To fufher boost the influx ofinvestors in the city, the goverfinent will not only maintain, develop and enrich its currert facilities and resources, il shall likewis€ strive to build and expand better structures that would create an investment-friendly environment where both local and foreign investors/entreprenerrs can meet theil optimum goals while enjoying the luxury of sceric attractions in the City. SECTION 10. COYERAGE - M|rikin& Investmeni Priority Aieas Edrepreneurs/lovestors having the following type/mtrre of business shall be given priority wder this Code and shatl be part ofthe Madkha Investment Priority Aleas: a) Labor intensive ederprise, non-pollutive b) Electrodc Enterprises c) Tourism-OrientedEnterpdses d) Pioneering and Non-Pioneering Enterprises (BOI registercd) e) Service-Oriented Enterprises 0 Telecommunications Development Efterprises g) Export Oriented Enterpdses tr ORDINANCE No. 175 Series of 2003 Page of 12 CHAPTER V OUALIFICATIONS FOR ENTERPRISES THAT CAN AVAIL OF THE SIP INVESTMENT SCHEME SECTION 11. Criteria to av&il ofthe Special Investmeat Plan (SIP) Incentives. The SIP incenlive scheme shall apply to both locaVforeign micro, small, medium and large scale corporations/companies,/business entities that sbal1 invest in Madkina for a period ofat least ten (10) years. To firther qualify for the SIP incentive, the business entity must at least have a labor force consisting of 70y" Marlk:ll,a residents (for factories/corporations that require minimum skills or blue-collar jobs), while on the other hand, at least a laboi force of Soyo Malikina residents (for corpanies that requie high- intensive knowledge based ski11s or white-collar jobs). No locaVforeign economic activity or enterprise shall avail ofthe SIP wfess ils investor's plan is thoroughly screened a1ld legithnately approved by the MIB. All prospective investors including the existing licensed establishments must conform and be guided by the existirB Marikina lnvestrnent Code, National Laws and Marikina City Ordinances in order to benefrt ftom the SIP, However, subject io the sound discretion ofthe MIB, not al1 investors can avail ofall the business incentives stated under the SIP. Any investor found to have violated any ofthe provisions ofthe Marikim Iflvestmed Code, automatically waives or looses the right to obtain incentives stipulated in the SIP. CHAPTER INCENTI!'ES SECTION 12. EXISTING AMENITIES AND PROGRAMS, hvestors can a}?il of the following amenities and pro'grams once they decide to do business in Marikina: Existence of the Busitress One-Slop-Shop @OSS). As an arm of the MIB, the BOSS shall provide five (5) stages of suppofi to investors where they can treely seek quicvapt assislarce: proc (al Ouict alld Hasst frce - a one-stop permit processing office which sha1l include approral of business name, SSS, Philhealth PACIBIG, sadtary permit, business license to operate. Maximum of one week to plocess. (b) Preparation - additional market e\duation ard assessmeot, packaging and design enhancement. (c) Data Base Irforrnation to Preferred,/Pdoritized Area of Investors - useflrl in analyzing the best strdegic area where to conduct business, fd) Developine Aocess - domestic/interDational linkages/contacts. (elPosftiquiag - product/brand and image enluncement that would create a huge number of loyal consumers. ttr ORDINANCE No. 175 Series of 2003 Page 8 of 12 Assurance of a respected and effective Marikina Tripartite C9u1c! . The inl*iU* ftipu"tit" iouncil was qeated by virtue of Ordinance No 216' Series. of ldry "O.ai"uo"e directing all business applicants to recognize-and -abide rith ih" "tt tpitrt"odu,i "iotts of the "Tripartite Memorandum of Agreement" The MOA which was signed by the City GoverDmert of Marikin4 t}Ie Local Management s"L. 1co-pised oi the Marikina Valley Chamber of commerce & the filipino- Chinese Chamber of Commerce, the Alliance of Trade Union in Marikina fefUfrO, tut dolle a great deal towards establishing and flaintaining industrial pear€ & security. As stipulated under the MOA, the three parties vowed to: operation for newly established business firms' - Ordinanoe No. 143, Series of 1991 - "Ordinaace exempting flom paymert of toti*t. p".-lt and business fees all business establishments in the City of ln4arikha that are finaflcially distressed"; - Ordinance No, 215, Series of 1998 - "Ordinance exempting all newly-acquiled machineries and equipment tom payment of taxes". The City shall waive taxes on fully depreciated machinerievequipment. (b) Conduct regular dialogues with labor unions and maragement to sort out differences in coordination with the Worke$ Afairs Ofrce' ( ' c ' ) Sponsor various activities such as sportsfests, farnily olympics, picnics, etc' to'create an atmosphere of camaraderie between the malagement and the labor sealor. 3. Existence of well-maniged CENTER FOR EXCELLf,NCE plus other trational gov€rnment skilis/training institrtions such as CITC and TESDA - CENTEX"shall assist investors with apt and adrance manpower developmelrt that *oJA p"o"iae them with comp&"ttt, lnowledgeablg and-- skill-intensive With a personalized approach, it- shall continuously employeeVluborers. coordinate with their maragement as to develop training kitVmodules necessary to improve their workfo."". the CEt'ttBX sha[ corduct trainings for blue-collar aoa pro"ia" technical know-how and new leadership skills for a sound "mpi6y"es management. On the other hand, TESDA and CITC, both located at strategic areas in Marikina, can provide other skills training and mallpower development seminars that would fi.{ther enhance the work capability ofthe future ernployees oftlre said investors' 4''. Advocecy of 'The MAruKINA CITY FIRST (MCF).POLICY "- Marikina t"tiA"*t"." rct only known for beirg disciplbed, and having knack.for good taste and excellence Lut they also have a strong sense of loyalty to their-leaders and to locally made produc; b€ing rranufactured in Marikina as- proven by their of miuttr' toiamacting morc customers instead of resorting to expensive tri- media advertisemeDts ro promote their producls/servjces Ir ORDINANCENo. l1s Series of 2003 9 of Page 12 Existence ofa PRP-ACTIVE Marikina City Small and Medium Enterprises Development Council (MC-SMEDC) that holds venues for exchange ofideas (such as the regular holding ofa Merikina Business Conferenc€)- recognizing that small and medium scale enterprises have the potefiial for more employment genentior! the govemment has given the MC-SMEDC an ofEce or a center where they can be ofhelp to various individuals/companies who are interested to put up a business in Marikina. It serves as ar infomation center where one can gather statistical data and all other useful data needed to establish a business. Existence of well trrined and multi-awarded /well known 24-hour RESCUE OPERATIONS TEAM dubbed as the RESCUE 161- This rescue operations tea4 better known as RESCUE 161 shall assure investors that their safety and security will be the top most priority of the City Government of Marikina. Investors are just a phone call away fiom getting rescued by midnight doctors, disasters trained atrd well-equipped paramedics, policemen, and fuemen. f,xistence ofa clean and safe environment- The City Government ofMarikina, with its extensive program on waste management, was awarded in the Hall of Fame as the "Cleanest City in the Metropolis". The City was the fust to undertake a complete transformation of its rivei into a towist haven. Likewise, with the strict implementation of local ordinances pertaining to peace and order, Marikina City residents enjoy a peaceful and orderly life. The cdme rates ale low compared to other neighboring cilies and municipalities, Aside trom local policemen and public safety personnel, Marikina has a vast anay of civilian volunteers who are willing ard able to Fotect their lives and property. The existence of the Animal Protection and Quarantine Division of the City Govemment asstres investors ofa stray dog/animal-Aee City. Eistence of rdequ4te infrastructure and various forms of transpoitation - Marikina has adequale infrastructure interconnecting the City to Makati, Pasig, Pasay, Quezon Citt San Jua4 Antipolo, Montalbaq and Rizal. Marikina has also a wide array of cheap transportation that can saft1y transport the products of investors to its destination, such as, the local ri-bikes, bicycles, tricycles, taxivcabs, jeeprcys, buses, river/ferry boats, metro mil tansils and mono-trairu. Rent-a-car businesses are also available. 9. Existence of "SPEAK IN ENGLISH POLICY"- the "Speak in English Policy" has been adopted by all schools in a1l grade levels thtroughout the City. Students in public schools are taught to speak the English language fluently, an indication that all residents are driven to think global and excel in the larguage cornmonly used in brxiness. Said'!olicy" encoumges other agencies/institutions to do the 10, A City in the Pink of llealth- Conscious of flaintaining a healthy lifestyle, the govemment has numerous health centers situat€d in all barangays/towns which gives fiee dentaVmedical services. Marikina also has a Clean Food Laboretory that modtors and checks the quality of water, mea/poultry products and vegetables being sold in the market. Market vendors are also strictly mandated to ORDINANCENo. Series of 2003 10 of Page 12 wear proper aftire (hair netsi aprons and caps) during the conduct of business in the market. All these fictors serve as an asswance to investors dlat their health is a primary concern ofthe City Govemment. Sf,CTION 13. BONUS INCENTIVES FOR NEW INVESTORS 11. TAX HOLIDAY INCENTIVES are cerried out to Micro, Smsll, Medium and Lerge enterprises. Sma1l and Medium enterprises shall be defined as any business entities engaggd in any indrxtry or se ices, whether single Foprietorship, cooperative, partnership or corporation whose total assets, inclusive of those arising tom loans but exclusive of the land on which tlte particular business entity's omce, plalt and equipmed are situated, fall under the following categories: For Local/Foreign Investors Micro capital: - a) - 100,000 pesos to 1.5 million I yearRPT ftee Small capital: - b) - 1,500,001 pesos to 15 million 3 years RPT ftee c) Medium - capital: 15,000,001 pesosto 100 million - 4yeaxs RPT fiee * RPT- Real property tax Excluding the micro enterprise, the thee above-cited enterprises shall be exempted ftom payment of Mayor's p€rmit, business permit, building permit, sanitary permit, occupancy perrnit, barangay clearance for two (2) years, and amusement ta"r for thnee (3) years. olr the other hand, foreign enterprises fully owned or majority owned by foreigners (more than 40% foreign equity) ard at least 70olo oftheir Foduction is for exports may also avail of tax holidays as prescribed under the Retail Trade Libenlization Act of2000 and the l99l Forcign Investment Code, provided that they confo.m with their existing implementing rules and guidelines. Tax Holiday Incentives shall only apply to priodty areas of investment. 12, Continuous I.T. Based Knowledge Training that wolld further enhance th€ system of E-governance in Marikina. Information Technology (IT) trainings have been primarily adopted to facilitate the speedy ard effrcient delivery ofbasic services to the conunon folk. The existence of Geographical Information Slstem (GIS) and e-govemance in Marikina have promptly increased the demand for data base/programs signaling the involvement of the city government in enticiflg/attracting investo$. InvestoN are gil,en the ler€rage to use tlre Intemet and other IT related tools to expand their market. Further, said e-commerce tool will increase the City's dornestic and global compamtive advantage. Besides having the edge of keeping a watchirl eye on business sense/opportunities, tlrough IT, investors a.re also wamed in advalce of sudden possible policy changes that could adversely affect intemational trade thereby affecting rheir own businesses. 13. Industrial Securiry Program - to protect the property of investors (which shall include not only the building, but the rest of the equipment, machines, i.rnitwe within the premises ofthe establishment) ftom theft, vandalism and liracf, the I ORDINANCE No. 1.75 Series of 2003 Page 11 of 12 City Government shall mandate the local Philippine Natioml Police (PNP)' Oftice ofthe Public Safety and Security (OPSS) personnel and the Bantay-Bayan brigades to routinely co[duct inspections at tlrc sites specially during very late hours ofthe night. 14. Free Air Time for the promotion oftheir business venture via DZBtr - rcgular timg slots will be given to investors who would like to use the radio proglam to promote, se1l or make armouncements about theh business/products' 15, Free quarterly pnblicatior of the Marikina Mrgtr{te Post - a magazine that woun feature ili salient points of selected businesses that are adopting a world class policy. It shall include tips on new technologievequipment that are available in ttre mariet, updates on e-conunerce, regulsr listing of investments in Mafikina and information regarding 'there to invest?" and "how to invest?'' The invesors can ftee1y advertise th€ir business in said publication which will be sent to various LGU's prospective clients, merging parhers local and abroad' CIIAPTER VII APPROPRIATIONS SECTION 14. MARIKINA INVESTMENT BOARD (MIB) FUND - Two thirds (2/3) ofthe City Annual Budget allocated for Livelihood Program shall be allotted as iundt fo, ttt" jroper implemintation of the Special Investmelrt Plar Incentives and other operafional ;xpenses of the MIB. Furthermore, 2oyo of the City Development Funds can also be used as a source ofthe Marikina City Investment Code's successful implementation. CIIAPTtrR VIII FINAL PRO\TSIONS SECTION 15. EXCDPTION' This Ordinance shall not apply to financing or banking institutions and other enterprises governed by the Central Banking Act and under the supervision ofthe Bangko Sentral ng Pilipinas. SECTION 16. INSPECTION AND SITE VISITATIONS. The MB is authorized to conduct regular inspections ofthe premises ofthe business tlat has availed ofthe SlP, and is empowered to examine the progress of said enterprises This shall include records and books ofthe enterprise's operation, audiXed financial statements and total local incentives availed under the SIP, Sf,CTION 1?. PENAL CLAUSE. Sarction shall be canied out by the MIB to anyone found violating this Code. Aside ftom those mentioned under Section 6, Chapter II of this Code, the MIB can impose and penaliz€ any violator a fine of Five Thousand Pesos (P5,000.00) and an imprisorment of six months, with a minimum jail six months community service to be rendered after his4rer release in ln case the violation is committed by a partnership, corporation, association, cooperative, all those found to be hvolved in committing the violation shall pay and suffer the herein cired penalty including the Manager or ChiefE recutir e Oflicer' i ORDINANCE No. t'7 5 Sedes of 2003 Page 12 of 12 SECTION 18. SEPARABILITY CLAUSE. Iffor any reasorL ary par:t or provrsion of this Code shall be declared unconstitutional or in"lid, other parts or provisions hereofwhich are not affected thereby shall continue to be in full force and efect. SECTION 19. REPEALING CLAUSE. Al1 local deqees, orders, instructions, proclamations and issuance, or part thereof which are inconsistent qTith any of the provisions ofthis Ordinance are hereby repealed or modified accordingly. SECTION 20, EFFECTIVITY. This Ordinance shall take effect upon approval. ,APPROVED bv The SANGGTNIANG PANLLTNGSOD Of MARIKINA this 1 OS dAY ofDecember 2003. I hereby cefiiry to the passage ofthe foregoing ORDINANCE which was duly approved by the Sangguniang Panlungsod of Marikina during its 47'b Regular Session held on December 10. 2003. OLITA E. DE LEON ATTESTED & CERTIFIED TO BE DLTLY APPROVED: ON 9'ANDRES, M,D. Aing Offlcer/City vice Mayor lc, Approved by the Honorable City Mayor on Decedber 2ccl fu^*^fi^ MA. LOIJRDES C. FERNANDO city Mayor