TACLOBAN CITY – Local government units (LGUs) must be active in convincing investors to come to enhance economic activity in their respective areas as people from the business sector are in position of creating economic development by investing and putting establishments and industries that can help uplift economic conditions.
Inviting investors should be the main focus of every LGU as the government should never engage into business, according to Leyte Governor Jericho “Icot” Petilla in his speech during the recently-concluded 1st Eastern Visayas Chamber of Commerce and Industry Conference held in this city.
“What the government should do is to support businessmen,” Petilla stressed.
He added that in inviting potential investors, LGUs must present all information to their prospect investors, including existing economic indicators.
He also added that the Department of Trade and Industry (DTI) and the Department of Tourism (DOT) must come up with a program that will support this endeavor.
Petilla also added that as business sector provides income to the government and are creating jobs to the people, the government, especially the LGUs, should be business friendly.
The provincial government has its own investement code and help organize the Business Month celebration held every October.
However, Gov. Petilla stressed that in the event that the business sector fails to start putting investment in their locality, that is the time that LGUs must take a bold step in investing on something that will help their local economy just like what the municipality of Abuyog did when they funded the construction of a hotel, which is under the management of the local government unit.
Petilla also stressed that as each LGU must concentrate on inviting investors, their mind set should not just concentrate on improving their local economy but for the economic growth of the entire region.
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