DTI banks on new incentives scheme to sell PH to the world

- Advertisement -

Foreign investors have cited four unique reasons why they choose to invest in the Philippines: incentives, ease of doing business, availability of English-speaking talent and the natural beauty of the country, according to Secretary Cristina Roque of the Department of Trade and Industry (DTI).

At the Bagong Pilipinas television program aired yesterday, Roque said this is the feedback she has been getting from businessmen she met in her investment missions abroad.

During the program, Roque tackled one of the key factors, incentives, and explained the DTI’s priorities for this year.

- Advertisement -

The DTI in 2025 will leverage the incentives offered by CREATE MORE (Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy) which was passed into law in November 2024, Roque said. 

DTI will hold roadshows and international engagements to promote the Philippines as a prime destination for foreign investments, she said.

Roque said that during these missions, she will highlight CREATE MORE as the government’s most attractive incentive scheme crafted so far.

“CREATE MORE is a game-changer in attracting international investments. It offers enhanced incentives for investors, with benefits now extended up to 27 years, particularly benefiting large companies focused on longevity and sustainability. These changes aim to create a more favorable investment climate in the Philippines,” Roque said.

CREATE MORE has garnered significant interest from Japanese investors and other international stakeholders, particularly during talks abroad, the DRTI chief said.

At the World Economic Forum in Davos, Switzerland held last week, the Philippine delegation participated in a series of productive meetings with trade ministers and potential investors, highlighting the Philippines’ attractiveness as a trade partner, Roque said.

The DTI also met with trade ministers from Israel and Thailand, discussing opportunities for expanding business ties with these countries. 

Another pillar of the DTI’s priorities this year, Roque said, is the continued support to micro, small, and medium enterprises (MSMEs) by using social media platforms to better promote government programs designed to assist the sector.

Last year, the DTI launched the Enterprise Rehabilitation Fund which aims to help businesses recover from the impact of typhoons and other disasters.

The program offers a one-year grace period without principal or interest payments.

This year, Roque said, the DTI plans to expand its efforts by aggressively advertising these programs to ensure that businesses across the Philippines are aware of the support available to them.

Digitalization, she said, is another key focus area following the signing in 2023 of the Internet Transactions Act that has made it easier for businesses to access information and sell products online.

Roque said digitalization is also important in easing doing business in the country by further digitizing processes for permits, business name registration, and other necessary approvals. 

Roque said another vital component of the DTI’s strategy this year is consumer protection as she vowed to strengthen monitoring of, and ensuring compliance of domestic and imported products with strict standards.

Author

- Advertisement -

Share post: