The Sangguniang Panlungsod (SP) approved an ordinance creating the Bacolod City Department of Local Economic Development and Investment Promotion (DLEDIP) on third and final reading during its regular session on Wednesday, July 12.
Mayor Alfredo Abelardo Benitez, in his state of the city address on July 5, urged the SP to pass the ordinance that will elevate the existing Local Economic Development and Investment Promotion Office into a full-fledged department that will market Bacolod as a prime investment destination, strengthen investor relations and design and implement programs to support local enterprises.
The ordinance, co-authored by councilors Jude Thaddeus Sayson and Al Victor Espino, states that it is imperative to create a city department that will be responsible to encourage more investments and competitiveness in the locality to sustain economic development.
The Department will take charge of all activities related to LGU investment facilitation and promotion activities, local enterprise development, establishment of support mechanisms for the growth of Micro, Small and Medium Enterprises (MSMEs), provide mechanisms for business retention and expansion, and other business and economic activities to attract investments and generate employment, it said.*