SEIPI lauds Recto for amending Create bill

THE electronics industry appreciates the efforts of Senate President pro tempore Ralph Recto and other senators for introducing amendments to the Senate version of the proposed Create incentives rationalization. His proposed options demonstrate an astute understanding of the business decision factors that multi-national companies, which have factories In other Asian countries, consider in order to retain and/or increase investments in the Philippines. He has a good grasp of the risks of rolling out incentives that are not competitive with Vietnam, Thailand and other Asean countries, considering the high cost of operations (power, industrial water, logistics, labor, etc.) in the Philippines.

The proposed Create bill (formerly known as Citira) concerning the rationalization of incentives poses a major risk of job losses and a loss of new investments. SEIPI appreciate the efforts of the executive and legislative branches in finalizing an industry-friendly version of Create. They are also grateful for Philippine Economic Zone Authority (PEZA) and Department of Trade and Industry (DTI) for speaking on behalf of the industry.