LAOAG CITY, Jan. 12 -- Poised to become an investment destination in northern Philippines, the province of Ilocos Norte continues to lure investors by offering more fiscal incentives this year and possible joint venture initiatives.

Soya Cheng-Bueno, Ilocos Norte investment office head, said Thursday that under the newly updated Ilocos Norte Investment Code, new and existing businesses with multi-million-peso fresh investments worth PHP5 million and above are given up to 50 percent discount on the payment of basic real property tax.

In addition, businesses are exempted from paying the governor's permit fees for five years if 80 percent of their total workforce are bonafide Ilocos Norte residents.

Businesses engaging in solid waste and ...