INVESTMENT PRIORITIES PLAN

GEOGRAPHIC & DECISIVE ADVANTAGES

There are sufficient and comfortable reasons why investors should prefer Ilocos Norte as an investment choice. Among these are as follows:

In Relation to Other Countries:

• Geographic Proximity to Several Asian Countries with Great Market Potentials
• Abundant Literate and Skilled Manpower
• Tourist and Investor Friendly Population
• Available National and Local Incentives
• Highly Conducive Policy Environment
• Presence of Government and Private Agencies and Institutions Ready to Provide Assistance
• Available World Class and Competitive Financial Services
• Available Mineral Resources as Raw Materials
• Available Recreational Facilities and Scenic Tourist Spots
• Excellent Peace and Order Condition

In Relation to Other Provinces:

• Presence of International Airport and Seaport
• Reliable Infrastructure Facilities like Power, Transportation and Telecommunications
• Available Local Incentives Provided for Investors
• Presence of Competent Universities and Technical Schools
• Existence of Institutions and Government Programs Geared Towards Generating and Supporting Investments

STRATEGIC INVESTMENT THRUSTS

Agri-Industrial Development

• Currimao Agri-Industrial Area

Tourism Development

• Ilocos Norte Hotel and Convention Center
• Pagudpud-Bangui Eco-Tourism Complex

Agri-Fishery Modernization and Food Security

Sustainable Development

• Coastal Area Resource Management
• Watershed Rehabilitation Program
• Solid Waste Management Program

Infrastructure Development

• Laoag International Airport Facility Improvement
• Currimao Seaport Facility Improvement

Preferred Investment Areas

1. Eco-Tourism

• Accommodation Facilities
• Nature Parks/Mountain Resort
• Transportation Services
• Golf Course
• Restaurants/Food Outlets
• Other Tourism-Related Services

2. Mining

• Small-Scale Mining
• Large-Scale Mining

3. Agri-Business

• Post Harvest Facilities
• High-Value Crop Production
• Fruit/Meat Processing
• Feed Mill
• Aquaculture
• Cottage and Lime Industries

4. Alternative Energies

• Wind Power
• Solar Energy
• Bio-Fuel

5. Service

• Media/Advertising
• Medical Services/Facilities
• Information Technology
• Financial Services
• Engineering/Architectural Services
• Training and Sports Facilities
• Human Resource Development (i.e. Training Facilities, Educational Institutions, etc.)

LOCAL INCENTIVES FOR DOING BUSINESS IN ILOCOS NORTE

Fiscal Incentive

• All registered enterprises qualified under the Ilocos Norte Investment Code shall be granted full exemption from the payment of basic real property taxes of the 35 percent share of the Provincial Government within a specified period vis-à-vis actual investment infused.

Source: Ilocos Norte Investment Center (INVEST)

• Additionally, qualified registered enterprises who invest more than Php60 Million shall receive 10 percent discount on the 35 percent provincial share from real property taxes for the succeeding five (5) years from the expiration of the period of full exemption.

Source: Ilocos Norte Investment Center (INVEST)

• Additionally, qualified registered enterprises who invest more than Php30 Million shall receive 10 percent discount on the 35 percent provincial share from real property taxes for the succeeding five (5) years from the expiration of the period of full exemption.

Non-Fiscal Incentives

Note: Provincial Ordinance No. 2008-11-078 entitled, “An Ordinance Providing for Benefits and Privileges for Balikbayans Coming Home to the Province of Ilocos Norte and for Other Purposes”.