On April 25, 2023, the Local Investment and Incentives Board (LIIB) held its 2nd meeting at the City Mayor's Office Conference Room. The board was appointed by virtue of Executive Order No. 077-2022 and pursuant to the Cagayan de Oro City Investment and Incentives Code (LIIC) of 2018. The proposed agenda for the meeting included updates from the previous meeting and a review of the LIIC. 

The Cagayan de Oro Trade and Investment Promotions Center, which serves as secretariat to the LIIB, presented economic data on the city, shared updates on inquiries from potential investors and investment incentives applicants, and facilitated a review of the LIIC to identify areas requiring amendment or improvement.

 

 Cagayan de Oro’s Gross City Domestic Product in comparison with other highly-urbanized cities (HUCs)                            Services makes up the lion’s share in the city’s economy in terms of gross income,
                                                                                                                                                                                                                        number of establishments, and employment share

 

 

The Board also discussed the importance of monitoring the implementation of the LIIC and its impact on the local economy. They proposed setting up a monitoring and evaluation mechanism to ensure that the code is implemented effectively and efficiently.

  

 

The Board resolved to meet more frequently, opting for a monthly rather than quarterly meeting schedule.