Mati City, Davao Oriental — The city government of Mati is rolling out a new tax incentive program designed to attract investors and entrepreneurs looking to establish business ventures in the city, as part of a broader strategy to stimulate economic growth in the region.
The initiative, reported by SunStar Davao and the Philippine Information Agency, offers various tax breaks and incentives to qualifying businesses that set up operations in Mati City. The program targets both local entrepreneurs and outside investors who see potential in the city's growing economy.
As the capital of Davao Oriental, Mati City occupies a strategic position in the southeastern part of Mindanao. The city has been working to diversify its economy beyond agriculture and tourism, and the tax incentive program is seen as a key tool in attracting new industries and creating jobs for residents.
The incentives are expected to cover a range of business categories, from small and medium enterprises to larger commercial operations. By reducing the initial tax burden on new businesses, the city aims to lower the barrier to entry and encourage more entrepreneurs to choose Mati as their base of operations.
Local business leaders have welcomed the move, noting that competitive tax incentives can make a significant difference in attracting investment to smaller cities outside Metro Manila and Metro Cebu. The program also signals the city government's commitment to creating a business-friendly environment.
Mati City has been on an upward trajectory in recent years, with improvements in infrastructure, tourism promotion, and public services. The addition of tax incentives adds another layer to the city's economic development toolkit, complementing existing efforts to position Mati as an investment destination in the Davao Region.
Entrepreneurs and investors interested in taking advantage of the program are encouraged to coordinate with the city's business permitting office for details on eligibility and application procedures. As Mati City continues to grow, programs like these are expected to play a vital role in shaping the city's economic future.