CREATE Act To Encourage JP Investments in the Philippines
DTI Undersecretary Ceferino S. Rodolfo (left) briefed Japanese investors on the CREATE Act. Japanese Ambassador to the Philippines H.E. Koshikawa Kazuhiko (right) also remarked on investment opportunities in the Philippines.
31 March 2021 – The Philippine Embassy in Tokyo, through the Department of Trade and Industry- Board of Investments (DTI-BOI), the ASEAN-Japan Centre (AJC) and the Japan External Trade Organization (JETRO), held a Webinar on the “Philippine Online Business: Corporate Recovery and Tax Incentives for Enterprises (CREATE) Bill and Strategic Investment Priority Plan (SIPP)” on 25 March 2021. More than 400 participants from the Japanese community attended the said webinar.
AJC Secretary-General Masataka Fujita mentioned that the CREATE bill is expected to improve the market and investors’ trust in rationalizing incentives that are addressing changes in what a business need.
DTI Undersecretary Ceferino S. Rodolfo remarked that the Philippines has a large and fast-growing domestic market and enjoys preferential access to all major global markets. “With the CREATE bill, the Philippines is in a position to offer highly competitive incentives that will help maximize financial returns from developing a local supply chain network” Undersecretary Rodolfo conveyed.
Aside from providing a comprehensive discussion on the CREATE Act and its advantages, officials from JETRO and DTI-BOI also briefed on the current Philippine business climate and expounded the Philippine Government’s Strategic Investment Priority Plan (SIPP).
President Rodrigo Roa Duterte recently signed CREATE Act or Republic Act No. 11534 to further promote investments in the country on 26 March, a day after the webinar. END
