Tuguegarao, the lone city in Cagayan province and the seat of the regional government, serves as a springboard for commerce and trade in Cagayan Valley Region. It is envisioned to be a smart, green, and livable city. 

The city government’s development plan, under the present administration, is anchored on the thrust to increase business operations and sustain innovative best practices to develop the city as an investment window in Northern Luzon.

Recently, Mayor Maila Ting-Que and the city’s legislators presented key investment priority areas to Chinese investors during the Philippine Investment Forum organized by the Department of Trade and Industry at the 20th China-ASEAN Expo 2023 held in Nanning, Guangxi, China.

She said the city exhibits rapid growth and development in the areas of economic dynamism, government efficiency, infrastructure development, resiliency, and innovation that ensure the provision of a haven for developers, entrepreneurs, and investors.

The chief executive introduced eight priority investment areas, namely: infrastructure development, tourism, light industry, waste management, alternative energy sources, agri-business, creative and knowledge-based industry, and export industries.

“To encourage more investors in our city, we implement a competitive and effective tax incentive to investments along the city's investment priority areas,” the mayor said.

The mayor guaranteed that Tuguegarao is an investor-ready city that provides a business-friendly environment, robust and diverse human resources, expanding infrastructure, cost-competitive advantages, rich tourism potential, and the presence of major locators.

"We have one of the widest local tax incentives in the northern region. Additionally, we offer non-fiscal incentives and ease of doing business to would-be investors in our city," Ting-Que added.

The mayor added that Tuguegarao City offers competitive rates for would-be local and foreign investors in terms of wage, rent, and utility rates.

“It also has a strong human capital with a 96.2% literacy rate, and about 55% of its demography falls between the ages 14 to 49,” she added.

Ting-Que stated further that the city is the center for academic excellence in the Cagayan Valley Region and is dubbed the home of topnotchers because of its numerous first placers in the local board examinations, particularly in the fields of accounting, nursing, medical technology, library science, and engineering.

"Our city is a major urban center and the focal destination of trade and commerce in Northeastern Luzon. It is the heart of the Cagayan Valley Region where the regional government center is located. It offers interconnected road networks, a secondary domestic airport, and other business-friendly amenities designed and built to ensure an active commerce and trade that secures the quick return of investments and profits," she stressed.

Aside from these, she explained that the city can offer bigger opportunities and potentials in low-cost housing, dairy processing, transportation, agro-industrial development, agro-eco-tourism, techno and recreational parks, and convention centers.

She added that the flagship programs in tourism aim to transform Tuguegarao City as a hub in the knowledge-based, food, and health industries.

"Tuguegarao has rich tourism potential, and every year, we celebrate the city-wide Pavvurulun Afi Festival to showcase our unique food, music, and culture. We also have the top medical centers in the region that provide excellent quality health care," she added.

Aside from the potential investment opportunities, Ting-Que also presented proposed major projects to be undertaken soon, including the establishment of a 30-hectare solar farm that can generate 30 megawatts of electricity that is projected to energize 16,917 houses annually, developing a business park that is envisioned to be the new business hub in Cagayan province, and making Tuguegarao City the only 'digital city' in Region 2. 

With these, the city government is expecting more investment opportunities that will propel Tuguegarao City’s economy. (OTB/PIA Region 2)