Investors and businesses continue to look at the Philippines,country to grow their businesses despite the pandemic.
“Our country remains competitive not only in terms of attracting foreign investments but also in cementing its business-friendly positions,” Rodolfo said. “Our economy positively responds to the easing of restrictions,” Department of Trade and Industry (DTI) Undersecretary and Board of Investments (BOI) Managing Head Ceferino Rodolfo said.
Rodolfo said the government is strongly optimistic of a post-pandemic recovery as the fundamental structure and strength of our economy remains intact.
He cited the latest employment data from October 2020 to January 2021 which showed that around 1.4 million jobs were already restored following the lockdowns.
The Production Manufacturers’ Index (PMI) remained steady at over 50 percent as of March since the start of the year as inflation slowed down in March to 4.5 percent and the country expects an inflationary downtrend in the coming months.
Rodolfo said the CREATE law can help Chinese investors as it “provides the government with the flexibility to grant fiscal and non-fiscal incentives for high-value strategic investments including the longer period for enjoying income tax holidayand tax subsidies for key cost items.”