Rights and Privileges

Section 15.   Rights and Privileges Guaranteed by the Provincial Government-  All investors and registered enterprises are entitled to the rights and guarantees provided by law and the Constitution. In addition to the rights and guarantees, and to enhance investors’ confidence in the incentives program, the Provincial Government, through the Lanao del Norte Investment Incentive Board, shall:

a) Provide a concise and comprehensive information to prospective investors on the economic priorities of the Provincial Government, including target investment areas and the general conditions applicable to incoming direct private investments;

b) Communicate investment evaluation criteria and procedures to enhance transparency in the process of granting government incentives;

c) Take the fullest possible account of the needs of the investor for stability, growth and profit in their operations in the formulation or modifications of policies and ordinances that affect investments;

d) Not interfere or modify arrangements with the investors after the details of the implementation of an investment project has been accepted and approved, and the ownership and management structure has been established unless the law provides otherwise;

e)  Avoid undue distortion of competition between or among enterprises operating within its territorial jurisdiction, whether domestic or foreign, when granting any special exemptions or incentives aimed at encouraging investments in the identified target areas;

f) In accordance with law and where no local personnel or worker is capable and available, allow the employment of qualified foreign personnel where there is necessity for the efficient operation of the enterprise or for technology transfer; and

g) Resolve all doubts concerning the benefits and incentives granted under the ordinance enacted for the purpose of encouraging in favor of the investor.