S&P: Create to weigh on FDIs

The proposed Corporate Recovery and Tax Incentives for Enterprises (Create) Act would support the Philippine economy in the near term, but could affect the inflows of foreign direct investments (FDIs) in the country, S&P Global Ratings said.

In a statement released over the weekend, the credit ratings agency said Create “would likely have a supportive effect for the economy in the near term, though the latest version of the act could also entail a net loss of revenue for the government over time.”