San Juan City Investment Code proposed

SJ Investment Code proposed
Investment Code proposed
December 31, 2007 07:44 PM Monday

SJ Investment Code proposed

THE City of San Juan is gearing to perk up the business activity in its area as it aims to adopt a new Investment Code in 2008.

Councilor Dante Santiago filed draft ordinance 60-2007, enacting the San Juan City Investment Code, which aims to encourage domestic and foreign businesses that would utilize local labor.

“We wish to encourage new investment or expansion/diversification in manufacturing activities, trade and property development such as establishment of private industrial state and tourism,” said Santiago.

Santiago added that a big number of employment opportunities for San Juan residents will be created and will give San Juan folk greater purchasing capability and power. The residents will also enjoy the benefits of the city government’s economic program.

“The board shall identify additional incentives and support measures which it shall extend to would-be investors,” said the three-term councilor.(People’s Tonight)