New envoy says Japanese firms in Philippines eyeing expansion opportunities

SunStar
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December 29, 2020
THE Philippines and Japan have reaffirmed their commitment to further build on their strong economic partnership, which includes plans to expand Japanese investments in the country following favorable developments on a Philippine tax reform measure that aims to significantly lower the corporate income tax (CIT) rate.
Newly designated Japan Ambassador to the Philippines Koshikawa Kazuhiko said during a recent courtesy call on Finance Secretary Carlos Dominguez III that Japanese companies are exploring ways of realigning their supply chains to other countries like the Philippines.
Koshikawa said the approval by the Senate of the Corporate Recovery and Tax Incentives for Enterprises (Create) bill, earlier passed by the House of Representatives, was welcomed by Japanese investors doing business in the Philippines.

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