An ordinance was filed granting tax exemptions and discounts for a period of time to overseas Filipino workers (OFWs) who invest in the city of Manila.

Filed by Councilor-actor Yul Servo Nieto of the third district of Manila, the proposed ordinance aims to encourage OFWs to establish small- and medium-scale businesses in the city.

Marcelino Miclat, a member of Servo’s staff, said the ordinance will benefit possible OFW-investors, broaden the tax base of Manila, and make the city more investor-friendly.

Miclat said the ordinance will help boost the job and employment rate in the city.

He said that it will also strengthen and increase the flow of wealth in the city.

Asked how OFWs can avail themselves of the tax exemption once the ordinance is approved, Miclat said those who are interested could bring valid documentation and register their businesses with the city treasurer.

From the time of their registration, he said, their businesses will be exempted from taxation for a number of years.