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Camarines Norte

Location and boundaries

• Camarines Norte is bounded by the Pacific Ocean in the North; Camarines Sur and Quezon in the South; San Miguel Bay in the east; Lamon Bay in the West.

Infrastructure facilities

• 1 secondary airport
• 1 terminal port
• 3 local exchange carriers
• 3 mobile phone companies
• 1 cable TV station
• 3 telegraph stations
• 3 radio stations
• Camarines Norte Business Centerpoint

Cost of doing business

• Power
  • Residential: US$0.80 minimum for 0-10 kwh, additional $0.049 per excess kwh
  • Commercial: $1.69 minimum for 0-15 kwh, addtional $0.0545 per excess kwh
• Water
  • Residential: $2.92 minimum
  • Commercial: $5.84 minimum
• Minimum wage rates
  • Non-agricultural: $3.40
  • Agricultural: $3.00

Potential investment areas

• Houseware/holiday decor
• Pineapple

Incentives

• For newly registered enterprises:
  • Within 3 years from start of commercial operation, there will be an exemption from Governor's permit and all other fees and charges imposed.
  • Exemption from basic real property tax imposed under the Tax Code for a period of 2 years from date of approval of registration by the Board.
  • Should an investor shoulder the expenses on the construction/maintenance of any infrastructure, 20% of the total cost shall serve as tax credit chargeable on a graduated basis against business taxes due to the LGU.
  • Tax credit of 30% of the total expenses for the clean and green projects.
• For Existing Enterprises:
  • Deferred real property tax assessment.
  • Incentives for prompt payment of real property tax.

Major tourist attractions

• Mercedes Group of Islands is good for island hopping, swimming, bird watching, boating, snorkeling, trekking, scuba diving, golf in Apuao Grande Resort, jet skiing, spear fishing and other related activities.
• Bagasbas Beach (Daet) is known for its fine gray sand, and good for snorkeling, jet skiing swimming.
• Capalonga Black Nazarene (Capalonga): All devotees and/or pilgrims of different religious sectors.