ORDINANCE NO. 2020-074

Summary/Additional Info:

Summary: Ordinance No. 2020-074, enacted on August 4, 2020, establishes the Naga City Business Stimulus Program (NCBSP). This program aims to support qualified small businesses in navigating the economic downturn caused by the COVID-19 pandemic and to involve them in revitalizing the local economy. The ordinance defines “Small Business” as registered enterprises in Naga City with assets not exceeding P3 million, covering sectors like wholesale/retail trade, food/tourism services, fabrication, and production. An initial allocation of Ten Million Pesos (P10M) is set aside for the NCBSP, sourced from savings generated by quarantine regulations. The ordinance also outlines the oversight by a dedicated Board, the monitoring responsibilities of the Naga City Investment, Tourism and Culture Office (NCITCO) for beneficiaries, and includes a sunset provision. The program is set to be effective for one year from the lifting of community quarantine, unless extended by the Sangguniang Panlungsod based on continued need.