The institutional environment consists of government instrumentalities
at various levels, non-government organizations, private organizations,
academic institutions and special purpose bodies, and community-level
institutions. From the government sector, the most important
insitutions are those involved with regional policy (RDC), planning and
oversight (NEDA, DBM and COA), implementation and technical support
(national line agencies and specialized bodies), and LGUs, NGOs,
academe, private business and community organizations are recognized as
invaluable partners of government in the exercise of power and pursuit
of development.
The current policy is supportive of decentralized development
investments and a number of incentive packages are available to
industries and other business enterprises that are willing to locate in
regional growth centers and the rural areas. The most important of
these are the Omnibus Investment Code of 1987, Foreign Investments Act
of 1991, Foreignn Exchange, Import and Banking Liberalization, BOT,
PEZA and other incentives. LGUs, in particular Legazpi, Iriga, Naga and
Daet have drafted their own Invetsment Code.
