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| Regional
Economic Situationer Investments Region V - 2nd Quarter 2010
▪ The Regional Development Council (RDC) in Bicol officially endorsed last May 26 the Guinobatan-Camalig-Daraga-Legazpi (GUICADALE) platform project as one of the major priority development measures in Albay province. Bicol RDC Chairman and Albay Governor Joey Salceda said the proposed project will consist of circumferential road and new arterial roads connecting the urban centers of Guinobatan, Camalig, Daraga Jovellar towns and, Legazpi City. The project was designed to encourage economic activities safe from the threats posed by Mayon Volcano eruptions, lahar flows, flooding and tsunamis. The project will eventually realize the goal to establish Metro Albay comprised of Mega Daraga, and Metro Legazpi. The road network project, when completed, will also provide easy and efficient access to the Bicol International Airport, new economic investment opportunities, increased farm income through reduced transport costs, improved living condition through efficient access to health and welfare facilities, linkage of agricultural areas to the market centers and integration of the economies of Albay and Sorsogon provinces. REVENUE ▪ The Bureau of Internal Revenue (BIR) district office in Daet, Camarines Norte has increased its collection for the first quarter of this year to P100 million against the agency’s collection target of P75 million. Marcelino M. Quito, BIR chief said that the increase was attributed to the intensified tax campaigns in the municipalities, dialogues with tax payers and appeal to the tax practitioners.
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