investing – Author Carlo Carrasco

Investors’ Interest In Nuclear Energy In The Philippines Remains Strong

November 30, 2025November 24, 2025carlocarrasco

The future of a nuclear-powered Philippines remains achievable as the Department of Energy (DOE) confirmed that investors are strongly interested in nuclear energy in the country, according to a BusinessWorld news report.

For the newcomers reading this, more Filipinos expressed through a survey their preference for nuclear power for electricity, PhilATOM was signed into law by President Ferdinand “Bongbong” Marcos, and Meralco is preparing its bid for a nuclear power license.

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

INVESTORS are still keen on developing nuclear energy projects in the Philippines, the Department of Energy (DoE) said, as the government prepares to start accepting applications next year.

Energy Secretary Sharon S. Garin said there is significant investor interest in nuclear energy projects in the Philippines, as some companies have already presented their ideas.

Speaking to reporters on Friday, Ms. Garin said companies want to go into nuclear energy as they see it as a possible solution to serve baseload capacity and to cater to the increasing demand from data centers.

“They’re very interested and are waiting for us to finalize the site selection and site evaluation,” she said in mixed Filipino and English.

The DoE plans to begin accepting applications for nuclear energy projects by 2026 as part of efforts to integrate nuclear power into the country’s energy mix by 2032.

Under the Philippine Energy Plan, the country aims to integrate nuclear energy into the power mix with at least 1,200 megawatts (MW) of capacity by 2032, increasing it to 2,400 MW by 2045 and to 4,800 MW by 2050.

“I understand, the companies are waiting for us to guide them on which are the areas that are more feasible. But some companies have already approached DoE to enter into a memorandum of agreement, non-exclusive, to explore the possible nuclear power plant development,” Ms. Garin said.

She said some energy firms have expressed interest in nuclear energy development such as power distributor Manila Electric Co. (Meralco) and power generation firm Aboitiz Power Corp.

In a separate interview, Meralco Executive Vice-President Chief Operating Officer Ronnie L. Aperocho said that the company waiting to see the ongoing development of Romania’s first small modular reactor before proceeding on its own.

“There is a requirement from PhilATOM (Philippine Atomic Energy Regulatory Authority) that the first-of-its-kind technology must run of at least about two years without any incidents before we can adopt it here in the Philippines. So, we have to go through that two-year requirement,” he said in mixed Filipino and English.

In September, President Ferdinand R. Marcos, Jr. signed Republic Act No. 12305, the Philippine National Nuclear Energy Safety Act, which created PhilATOM.

PhilATOM is an independent quasi-judicial body tasked with overseeing all nuclear and radiation activities in the country. Under the law, PhilATOM will hold sole and exclusive jurisdiction over the regulation of nuclear energy and radiation sources in the Philippines, ensuring their peaceful, safe and secure use.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think nuclear power in the Philippines will become a reality over the next several years?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

President Marcos Calls On HSBC To Help investors See Economic Opportunities In The Philippines

November 27, 2025November 19, 2025carlocarrasco

As the signs are clear that economic growth of the Philippines has weakened, President Marcos called on financial giant HSBC to help foreign investors realize the economic opportunities in the country, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the news article of the PNA. Some parts in boldface…

President Ferdinand R. Marcos Jr. has called on international bank HSBC to help more foreign investors see the huge economic opportunities the Philippines has to offer.

“Together let’s build a more progressive Philippine economy, where people can access reliable financial services, obtain meaningful opportunities, and live more dignified, comfortable lives,” he said in a speech at HSBC’s 150th year anniversary gala in Taguig City on Tuesday night.

“Let us continue creating an environment where investors, stakeholders, and most importantly, our citizens see the Philippines as a nation of promise,” he added.

He acknowledged the foreign bank’s support for government initiatives, including its participation in recent bond issuances such as the SEC-registered USD3.3 billion-equivalent dual currency global bond that aims to ensure the continuation of vital government programs.

“These programs, whether on infrastructure, education, or social protection, directly benefit our people, especially those who rely on stable public services,” he said.

He also cited HSBC’s strong collaboration with relevant economic agencies and its contribution to increasing the country’s exposure to foreign investors.

From its first branch in Binondo in 1875, Marcos said HSBC’s growing presence in the Philippines serves as a vote of confidence in the future of the Philippines.

On the part of the government, he said the administration continues to strengthen its financial systems to protect depositors.

The Bangko Sentral ng Pilipinas, he added, is refining capital, liquidity, and governance standards to ensure that banks are resilient.

The country, he said, also adopts reforms such as the Basel III New Standardized Approach, the National Risk Assessment, and clearer guidelines for the disqualification of erring officers.

“Today, as HSBC adapts to a rapidly changing economy, we are confident that the bank will remain true to its commitment to making its services more inclusive, more secure, and accessible to Filipinos,” the chief executive said.

HSBC, the leading international bank in the country, serves 41 million clients across 57 markets, with over USD3 trillion in assets.

In his remarks, HSBC Interim Group Chairman Brendan Nelson said the firm has “strong” confidence in the Philippines and is ready to work with the country to sustain its growth momentum.

He said HSBC is “determined to continue growing” in the Philippines as he noted its strategic position in Southeast Asia, one of the regions, he noted, is set to benefit most from the “configured globalized world.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think economic growth of the Philippines will get stronger in 2026? Do you think foreign investors will take a new look at the Philippines for economic opportunities soon?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Approved Foreign Investment Pledges Fall Down 48.7% In 3rd Quarter

November 21, 2025November 14, 2025carlocarrasco

The flood control corruption scandals connected with the weaker investor sentiment resulted in a 48.7% fall in foreign investment pledges during the 3^rd quarter this year, according a news report by BusinessWorld. It should be noted that Philippines GDP growth for the same quarter slowed down a lot.

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

APPROVED foreign investment pledges plunged nearly 50% in the third quarter as investor sentiment soured due to the corruption scandal involving government infrastructure projects, the local statistics agency said.

Preliminary data from the Philippine Statistics Authority (PSA) showed the value of foreign commitments approved by investment promotion agencies (IPAs) fell by 48.7% to P73.68 billion in the July-to-September period from P143.74 billion in same period last year.

However, this was the highest amount of investment pledges since the third quarter of 2024.

Ser Percival K. Peña-Reyes, director of the Ateneo Center for Economic Research and Development, said the decline in approved investments can be attributed to the weaker investor sentiment.

“Tingin ko. Wala pang nakukulong eh (I think so. No one has been imprisoned yet),” he said in a Viber message, when asked if this sharp slump in approved investments will likely persist in the fourth quarter until 2026.

Quarter on quarter, the approved pledges rose by 9.34% from P67.38 billion in the second quarter.

Singapore was the top source of foreign investment pledges in the third quarter with P20.26 billion (27.5%), followed by Japan with P13.59 billion (18.4%) and Cayman Islands with P13.14 billion (17.8%).

Investment commitments from South Korea stood at P5.57 billion (7.6%), while those from China stood at P4.51 billion (6.1%)

PSA data showed the investment pledges were approved by seven IPAs — the Authority of the Freeport Area of Bataan, Bases Conversion and Development Authority (BCDA), Board of Investments (BoI), Clark Development Corp., Clark International Airport Corp., Philippine Economic Zone Authority (PEZA), and Subic Bay Metropolitan Authority.

Let me end this post by asking you readers: What is your reaction to this recent development? What do you think the government must do to convince foreign investors to become more confident about investing in the Philippines? Do you think the investigation and pace of justice related to the flood control corruption scandal is moving too slowly?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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IMF Sees Philippine Economy Growing 5.4% This Year And 5.7% Next Year

October 10, 2025October 3, 2025carlocarrasco

By citing factors like weaker-than-expected growth in the first half, the American tariffs on Philippine goods and geopolitical conflicts, the International Monetary Fund (IMF) sees the economy Philippines growing only 5.4% this year and 5.7% next year, according to a news report by BusinessWorld.

To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…

PHILIPPINE ECONOMIC GROWTH is expected to moderate this year and in 2026 amid ongoing trade uncertainties and geopolitical tensions across the globe, the International Monetary Fund (IMF) said.

The IMF trimmed its Philippine growth forecast to 5.4% for this year, slightly lower than its 5.5% projection in July.

If realized, gross domestic product (GDP) growth will be at the low end of the National Government’s 5.5-6.5% target band this year.

For 2026, the IMF also cut its growth forecast to 5.7% from 5.9% previously. However, this is below the government’s 6-7% target for next year.

The IMF said the economy is expected to remain resilient, but downside risks warrant “close attention.”

“Risks to the growth outlook are tilted to the downside. The main external risks stem from prolonged global trade policy uncertainty, geopolitical tensions, and disruptive financial market corrections,” IMF Mission Head Elif Arbatli Saxegaard said at a briefing after the conclusion of the 2025 Article IV Consultation with the Philippines on Wednesday.

“On the domestic front, more frequent and intense climate shocks would cause notable macroeconomic losses. On the upside, accelerated implementation of structural and governance reforms would support investor confidence and the fiscal multiplier and raise potential growth. Risks around inflation are broadly balanced.”

Ms. Saxegaard said the growth outlook was revised to reflect the weaker-than-expected growth in the first half. For the first half, GDP growth averaged 5.4%, slower than the 6.2% a year ago.

Ms. Saxegaard said growth will be affected by the higher tariffs imposed by the US on Philippine goods. The US began imposing a 19% tariff on goods from the Philippines on Aug. 7

“It will weigh on exports and investment,” she said.

She also noted growth will be “supported by monetary easing and recent legislative measures to promote private investment.”

Meanwhile, the IMF sees inflation averaging 1.6% this year, before picking up to 2.6% next year.

“The pickup in inflation is expected to be driven by (the) food and transport crisis,” Ms. Saxegaard said. “And that reflects essentially the decline in negative base effects that have been dragging down inflation this year. So, as those base effects recede, we expect a pickup.”

She said core inflation is expected to “remain muted” at 2.5% in 2026.

“The BSP (Bangko Sentral ng Pilipinas) has room for a slightly more accommodative stance to help bring inflation back to the target faster and reduce economic slack amid elevated downside risks to growth,” Ms. Saxegaard said. “Policy will need to remain data dependent amidst prevailing uncertainties around the output gap and the neutral rate, and two-sided risks to inflation.”

On Aug. 28, the central bank slashed its key interest rate by 25 basis points (bps) for a third consecutive time to 5%. It has cut the benchmark by a total of 150 bps since August last year.

CORRUPTION – Asked about recent corruption scandals involving some government projects, Ms. Saxegaard said the IMF will continue to monitor the developments.

“It’s not yet clear whether and how these allegations will impact investor and private sector confidence, as well as their perceptions and behavior,” she said.

The IMF welcomed recent reforms to reduce infrastructure gaps and promote foreign direct investment, but effective implementation is key.

“Enhancing fiscal governance and the rule of law and reducing corruption vulnerabilities are critical for inclusive and sustainable growth,” Ms. Saxegaard said.

The IMF urged the Philippine government to continue implementing gradual fiscal consolidation “to replenish fiscal buffers and support external balance.”

Let me end this post by asking you readers: What is your reaction to this development? Do you think the IMF’s prediction of weaker economic growth will turn out true? Do you think the flood control projects scandal and government corruption investigation are turning away foreign investors?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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US State Department Flags Corruption In The Philippines As Barrier To Investment

October 9, 2025October 10, 2025carlocarrasco

Corruption is sadly deeply rooted here in the Philippines. So much so, the State Department of the United States flagged corruption as a barrier to investment in the Philippines, according to a GMA Network news report. To be clear, there have been economic forecasts about the Philippine economy growing less than 6% this year (possibly ending below the national government’s declared targets) and the US State Department published its detailed report about the country and investment online. As a lot of people are angry over corruption, tremendous economic damage of P1.7 trillion in market capitalization was wiped out (update: the Securities and Exchange Commission chairman apologized for stating the P1.7 trillion figure).

To put things in perspective, posted below is an excerpt from the GMA Network news report. Some parts in boldface…

The United States Department of State has flagged “pervasive” corruption in the Philippines as among the major barriers to foreign investment in the country.

In its 2025 Investment Climate report, the US State Department said “corruption is a pervasive and long-standing problem in both the public and private sector” in the Philippines.

It also cited the country’s rank of 114th out of 180 countries on Transparency International’s 2024 Corruption Perceptions Index and “remaining around that level since 2019.”

The State Department added that the World Economic Forum also flagged corruption as among the top problematic factors for doing business in the Philippines.

“The Philippines’ complex, slow, redundant, and sometimes corrupt judicial system inhibits the timely and fair resolution of commercial disputes,” it said.

“Foreign investors describe the inefficiency and uncertainty of the judicial system as a significant barrier to investment. Investors often decline to file cases in court because of slow and complex litigation processes and fears of corruption. Stakeholders report an inexperienced judiciary when confronted with cases involving complex issues such as technology or science,” it added.

The State Department also said its embassy in Manila has received multiple reports from US businesses of overly invasive searches, inconsistent customs charges, and solicitations of “facilitation fees” (such as bribes) from some customs officials.

To see the entire 2025 Investment Climate Statements about the Philippines, click https://www.state.gov/reports/2025-investment-climate-statements/philippines

Let me end this post by asking you readers: What is your reaction to this development? Do you think the US State Department’s 2025 Investment Climate report about the Philippines is true and accurate? Are you concerned that the perceived corruption as well as the shocking revelations about the flood control projects scandals are already discouraging foreign investors from investing in the country? Do you think the Trump tariffs will eventually bring down Philippine exports to the United States in the next few months? What do you think the Philippine government should do to wipe out corruption and regain the trust of foreign investors?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Asian Development Bank Sees Philippine Economy Growing Less Than 6% This Year

October 9, 2025September 30, 2025carlocarrasco

The Asian Development Bank (ADB) predicted that the economy of the Philippines will achieve growth of less than 6% this year, according to a GMA Network news report.

To put things in perspective, posted below is an excerpt from the GMA News report. Some parts in boldface…

The Asian Development Bank (ADB) has maintained its economic growth outlook for the Philippines this year on the back of sustained domestic demand despite global trade uncertainties.

In the September 2025 edition of its flagship Asian Development Outlook (ADO), the ADB said it forecasts the country’s gross domestic product (GDP) to grow at 5.6% for 2025, maintained from the ADO July edition’s outlook.

The multilateral lender said that “robust domestic demand amid subdued inflation will support Philippine economic growth this year and the next.”

“The Philippines’ growth outlook remains resilient amid a global environment of shifting trade and investment policies and heightened geopolitical uncertainties,” said ADB country director for the Philippines Andrew Jeffries.

“Though these uncertainties pose increased risk, we see strong domestic demand anchoring growth, with sustained investments and an accommodative monetary policy supporting the economy’s expansion,” said Jeffries.

For 2026, the ADB said it sees the Philippine economy to grow at 5.7% — the same level as the country’s actual growth rate in 2024.

Nonetheless, the bank said the country is expected to remain a bright spot in Southeast Asia, “with the second highest GDP expansion in the region.”

Moreover, the ADB said it forecasts inflation to ease at 1.8% this year, before rising to 3% in 2026 to return to the government’s target range of 2% to 4%. The latest 2025 inflation forecast is lower from July’s 2.2%.

Let me end this post by asking you readers: What is your reaction to this development? Do you think the economy of the Philippine does not have any more momentum to grow at least 6% this year? Are you concerned that the flood control projects scandal and government corruption here in the Philippines will turn away foreign investors?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Philippines Takes Major Step Forward With Nuclear Energy Safety Act

October 5, 2025September 25, 2025carlocarrasco

The movement towards a safe, nuclear-powered Philippines moved forward again recently when Philippine President Ferdinand “Bongbong” Marcos, Jr., signed into law the Philippine National Nuclear Energy Safety Act which formally created the Philippine Atomic Energy Regulatory Authority (PhilATOM), according to a news article by the Philippine News Agency (PNA).

To put things in perspective, posted below is an excerpt from the news article of the PNA. Some parts in boldface…

President Ferdinand R. Marcos Jr. has signed a law promoting the safe utilization of nuclear energy by creating the Philippine Atomic Energy Regulatory Authority (PhilATOM).

Marcos on Sept. 18 signed Republic Act (RA) 12305 or the Philippine National Nuclear Energy Safety Act, providing for a comprehensive legal framework for the peaceful, safe, and secure use of nuclear energy in the Philippines.

Under RA 12305, the PhilATOM is established as an independent and quasi-judicial body with sole and exclusive jurisdiction to exercise regulatory control for the safe uses of nuclear energy radiation sources in the country.

“The regulatory functions of all other government agencies with jurisdiction, functions, and authorities with respect to nuclear energy and radiation sources shall be transferred to the PhilATOM,” the law read.

The PhilATOM will be headed by a Director General who will be appointed by the President. According to the new law, the Director General of PhilATOM will serve a five-year term with a Salary Grade of 31 and may be reappointed for successive terms of the same duration.

“The DG shall be responsible for the overall management of the PhilATOM and shall exercise supervision of its administrative, technical, and financial operations,” RA 12305 said.

The PhilATOM is mandated to issue and periodically update regulations, standards, and guides to specify the principles, requirements, and associated criteria for its regulatory judgments, decisions, and actions.

It is directed to establish processes for developing and amending regulations, standards, and guides that include consultation with the public and other interested parties.

RA 12305 prohibits the unauthorized siting, construction, operation, commissioning, and decommissioning of a nuclear or radiation facility; acquisition, production, manufacture, import, export, distribution, sale, transfer, use, storage, or disposal of nuclear or other radioactive materials; use of testing of radiation generators; and radioactive waste management activities.

The law allows the PhilATOM to establish an inspection program and enforcement policy to ensure compliance by authorized parties.

The PhilATOM is mandated to enforce the implementing rules and regulations of RA 12305; assist the national government in the development of national policies and strategies for safe nuclear energy use; and review and assess applications for authorizations for nuclear and radiation facilities and associated activities.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the details behind the law creating PhilATOM is legally strong and clear? Do you think enough safety measures have already been assured within the Philippine National Nuclear Energy Safety Act? Do you think the establishment of PhilATOM will convince nuclear energy companies in America and France to invest in the Philippines and be part of the establishment of new nuclear power industry?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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2024 FDI net inflow into Philippines reaches $8.93 billion

March 21, 2025March 12, 2025carlocarrasco

Foreign direct investments (FDI) that flowed into the Philippines reached $8.93 billion in 2024 which is a tiny improvement over the previous year, according to a BusinessWorld news report. The result was below the target for 2024 set by the Bangko Sentral ng Pilipinas (BSP).

To put things in perspective, posted below is an excerpt from the BusinessWorld report. Some parts in boldface…

NET INFLOWS of foreign direct investments (FDI) into the Philippines inched up by just 0.1% in 2024 but plunged in December to its lowest monthly tally in 11 years, amid uncertainty in global trade, data from the central bank showed.

Preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed FDI net inflows edged higher to $8.93 billion in 2024 from $8.925 billion in 2023, ending two straight years of declining inflows.

The 2024 FDI tally was also the highest in two years but below the BSP’s forecast of $9 billion.

Investments in equity and investment fund shares rose by 13.1% to $2.7 billion in 2024 from $2.39 billion in 2023.

Net foreign investments in equity capital climbed by 42.4% to $1.54 billion last year from $1.08 billion in 2023. Placements increased by 4.3% to $2.17 billion, while withdrawals fell by 37.1% to $628 million.

BSP data showed these placements mainly came from Japan (38%), the United Kingdom (35%), the United States (10%), and Singapore (8%).

Investments were mostly channeled into manufacturing (68%), followed by real estate (12%), and information and communication (5%) industries.

Meanwhile, net investments in debt instruments stood at $6.23 billion, down by 4.7% from $6.53 billion in 2023. Reinvestment of earnings likewise declined by 11.2% to $1.17 billion from $1.31 billion.

DECEMBER SLUMP – In December alone, FDI net inflows plunged by 85.2% to $110 million from $743 million in the same month in 2023. Month on month, inflows likewise fell by 88% from $922 million.

December saw the lowest FDI net inflow in 11 years or since the $102.16 million recorded in December 2013.

“While nonresidents’ net equity capital investments rose, FDI declined due to increased debt repayments by resident corporations to their nonresident direct investors,” the BSP said.

The higher debt repayments brought net investments in debt instruments to an outflow of $19 million in December, a reversal of the $618-million inflow in the same month in 2023.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the Philippines can do more to attract more foreign direct investments this year? Do you think the FDI of 2024 will result in new businesses and new jobs all over the Philippines this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Japanese leisure services firm to invest P2.5 billion in the Philippines

March 19, 2025March 11, 2025carlocarrasco

Koshidaka Holdings, a leisure services firm based in Japan, will be investing P2.5 billion in the Philippines and plans to launch its first store this year, according to a Philippine News Agency (PNA) news article. This development is related with the Department of Trade and Industry’s (DTI) recent meetings with corporations in Japan. Kodaka Holdings has more than six hundred outlets in Japan and the Philippines is a key part of its planned expansion in Southeast Asia.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Japanese leisure services firm Koshidaka Holdings Co. Ltd. will be investing PHP2.5 billion in the country, with its first store set to open this year, Department of Trade and Industry (DTI) Secretary Ma. Cristina Roque said.

In a virtual briefing Tuesday, Roque said Koshidaka is aggressive on its plans to expand in the country to bring its karaoke business and onsen-style (hot spring) spas as well as opening women’s fitness studios in Philippine malls.

The Japanese firm is scouting for 30 locations to establish its business here before growing to 100 sites nationwide.

Koshidaka is one of the 13 firms and business organizations that Roque met during her recent visit in Tokyo as a follow-through of the agency’s investment missions in Japan.

These firms include Nidec Corp., Ibiden Co., Ltd., Etoile Kaito & Co., Inc, Adastria Co., Ltd., Sumitomo, Fujifilm Holdings Corp., Chodai Co., Ltd. Taiheiyo Cement Corp., Fast Retailing, JR East, and Koshidaka Holdings Co., Ltd as well Keizai Doyukai and Keidanren.

“We also check on their plans, what their plans are in our country for expansion and also for growth,” Roque said.

Earlier, Koshidaka announced that it would establish a Philippine subsidiary to offer a new style of karaoke entertainment.

Koshidaka said its expansion in the Philippines is a key initiative in its Southeast Asia growth strategy, with the country’s large market and economic development.

“Aside from the entertainment, they also want to open a gym that’s really just focused on women all over the country, and they also want to focus on creating Japanese onsen in the malls or in different areas that are of interest to them,” Roque said.

“So they’re actually coming first quarter this year to really explore the different locations where they can open.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you find Koshidaka Holdings’ karaoke and onsen-style spas interesting? Have you tried any of Koshidaka Holdings’ businesses in Japan before?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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New investments worth P23.5 billion from Japanese companies pledged in connection with CREATE MORE

March 10, 2025March 6, 2025carlocarrasco

With the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act already in effect, more than P23 billion in new investments was pledged by Japanese companies in connection with it, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the news article of the PNA. Some parts in boldface…

Department of Trade and Industry (DTI) Secretary Ma. Cristina Roque said Wednesday the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) law has attracted Japanese companies to invest in the country.

Roque and Special Assistant to the President for Economic Affairs and Investments Secretary Frederick Go visited Japan from March 3 to 4 to meet Japanese companies and business groups.

The DTI said during the visit, four companies pledged PHP23.5 billion worth of investments.

“Representing both the government and private sectors, those we engaged with expressed excitement and enthusiasm about collaborating with us, inspired by the positive developments they’ve heard about our country—our robust economic fundamentals and reformed policies and regulations,” Roque said.

“Specifically, what caught their attention was the recently enacted CREATE MORE law, which offers enhanced tax incentives, simplified processes, and greater opportunities for businesses to thrive in the Philippines,” she added.

Among Japanese companies that the Philippine government officials met include Ibiden Co., Ltd., Nidec Corp. and Sumitomo Corp.

The Philippine Trade and Investment Center (PTIC)-Tokyo told the Philippine News Agency that two of these companies are eyeing fresh investments in the country, while one of them is updating its three-year investment pledge.

DTI said Ibiden expressed its prospect for expanding its advanced substrate technologies operations, while Nidec eyes to expand its manufacturing footprint here.

On the other hand, Sumitomo renewed its commitment to collaborate with the Marcos administration’s infrastructure and clean energy goals.

Sumitomo’s project in the Philippines include the Metro Manila Subway Project, the MRT Line 3 maintenance contract, and the First Philippine Industrial Park.

Roque also had meetings with Fast Retailing Co. Ltd., the firm behind clothing brand Uniqlo, as well as the Japan Association of Corporate Executives (Keizai Doyukai) and the Japan Business Federation (Keidanren).

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the new investments pledged by Japanese companies in connection with CREATE MORE will influence many other foreign companies to invest in the Philippines this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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