MANILA, Apr. 24 — Top-ranking Taiwanese executives with extensive business and manufacturing operations in the Philippines expressed their strong confidence in continuing to choose and “Make It Happen” in the Philippines to further grow their businesses during the.
Published April 23, 2021, 7:00 AM
Top executives of major Taiwanese manufacturing firms vowed to continue choosing the Philippines for their regional expansion plans.
At the virtual Philippine Investment Forum in Taipei, co-organized by the Philippine Trade & Investment Center (PTIC) in Taipei and the Manila Economic and Cultural Office (MECO) on April 15, 2020, Taiwanese executives, decision-makers, and business leaders said they are seriously looking to expand their business operations .
The forum was highlighted by a discussion by Philippine government officials on the key features of the recently-enacted Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, a hallmark in Philippine legislation which lowers the country’s corporate income tax (CIT) rate and modernizes the country’s investment incentives that are competitive, transparent, time-bound, targeted, and performance-based.
Published April 22, 2021, 5:00 PM
Six Japanese wiring harness firms are investing in the country with estimated investments of P10.5 billion and 18,650 jobs potential, according to Trade and Industry Secretary Ramon M. Lopez.
Lopez based his announcement on the report by Commercial Counselor and Special Trade Representative Dita Angara-Mathay, who leads the DTI Field Office in Japan, during a meeting on Tuesday, April 20, with six Japanese companies.
Trade and Industry Secretary Ramon Lopez. (ALFRED FRIAS/PRESIDENTIAL PHOTO FILE PHOTO)
The online and sector-specific roundtable organized by the Philippine Trade and Investment Center in Tokyo was participated in by senior executives from Sumitomo Wiring Systems, Ltd. and Yokowo Co., Ltd., among others.
Philippines offers new incentives at Investment Forum in Taipei
04/20/2021 12:28 PM
Photo courtesy of Manila Economic and Cultural Office (MECO)
Taipei, April 20 (CNA) The Philippines highlighted new tax incentives for investing and operating in the country at the annual Philippine Investment Forum in Taipei on April 15.
The forum, held by the Manila Economic and Cultural Office (MECO), focused on the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), which was signed into law by President Rodrigo Duterte on March 26 and takes effect on July 1.
The act lowers the corporate income tax rate from 30 percent to 25 percent for large corporations and to 20 percent for small businesses.
PH, Poland seek closer business ties
The Philippines and Poland committed to strengthening trade and investment relations in key business sectors ahead of the 50th anniversary of PH-Poland bilateral relations in 2023.
During a recent online event co-organized by the Philippine Trade and Investment Center-Berlin (PTIC-Berlin), Philippine Embassy in Warsaw, and the Polish Chamber of Commerce, Philippine Ambassador to Poland Leah Basinang-Ruiz emphasized the importance of enhancing economic, political and social-cultural ties between the Philippines and Poland.
The Philippines currently enjoys a special trade relationship with Europe through a free trade agreement with the European Union (EU)-Free Trade Association.
Under the EU Generalized Scheme of Preferences, the Philippines is only country in Southeast Asia allowed to export over 6,000 product lines to the EU without duties.