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“We must cooperate more than ever,” Ambassador Laurel tells Japanese business, media executives

Ambassador Jose C. Laurel V (right) with Ms. Fujiko Amano (left) discussing his views on Philippines-Japan relations, opportunities for investments in the Philippines, and updates on CREATE bill and the Build, Build, Build infrastructure programs.

10 February 2021- At the on-line session facilitated by ASEAN-Japan Centre held yesterday, Ambassador Jose C. Laurel V interacted with more than 100 Japanese business and media executives who were eager to hear about developments on Philippines-Japan relations, investment opportunities in the Philippines, and updates on the Corporate Recovery and Tax Incentives for Enterprises or CREATE Bill, and the Build, Build, Build infrastructure program, as well as on the promotion of agriculture, tourism, and English language training in the Philippines.

For instance, the Ambassador shared that 5% tax cuts and the fiscal incentives that foreign companies will enjoy once the CREATE Bill is signed into law by the President.

The Ambassador updated the participants on the more than 200 infrastructure projects being implemented or already completed under the Build, Build, Build program.

When asked on the state of agriculture during the pandemic, the Ambassador discussed the “Plant, Plant, Plant” program of the Philippines, in which the government allocated Php 31 billion (JPY 65 billion) focusing on the food security and resilience of the country and the welfare of the farmers. The Ambassador was happy to report on the growth of the agricultural sector for the 2nd and 3rd quarters of last year due to the unrestricted mobility of the farmers and fishers despite the lockdown.

On English language training, the Ambassador noted that the Philippines is the third largest English-speaking country in Asia and that it is only one of the few countries offering one-on-one English language education.
“As the Philippines continues to rise as one of Asia’s fastest growing economies, it shall continue to be a reliable partner of Japan particularly where the Philippines has its competitive advantages, which are in cost competitiveness; high-quality and educated human resource; and attractive investment incentives. These advantages are key points that will keep the Philippines in the position of an important bilateral relationship with Japan, particularly in the economic sphere of relations,” Ambassador Laurel remarked.

Noting the challenges of the current situation the world is in, “we must cooperate more than ever,” Ambassador Laurel concluded.