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The administration of President Marcos is deliberate and resolute in anchoring the country’s economic growth on our inherent strengths as a nation. Our young and dynamic population, abundant natural resources, and strategic location at the heart of the Indo-Pacific region are our core advantages that provide us with a distinct edge. These key strengths, on their own, however, are not enough to guarantee a robust economy powered by foreign investments. Fortunately, our current set of leaders are also aware that in order to attract investors, the Philippines must have a favorable policy environment that would demonstrate the government’s support for the private sector. The environment should not only attract, but nurture and maintain private partners for the good of the national economy. There have been notable initiatives toward this end. For example, the Foreign Investments Act liberalizes certain key industries where there were previously caps on foreign ownership. The creation of special economic zones, on the other hand, provides incentives such as tax holidays and duty-free imports, fostering growth in sectors like manufacturing, information technology, and business process outsourcing. These measures have positioned the country as an appealing destination for investors seeking new opportunities in Southeast Asia. While challenges such as bureaucracy and corruption exist, the ongoing reforms and expanding infrastructure continue to create positive prospects for business growth. In 2021, in the middle of the pandemic, the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act was passed. The law attempted to boost investments by lowering corporate income tax from 30 to 25 percent, with further annual reductions to 20 percent by 2027. It also offers incentives for projects under the Strategic Investment Priority Plan, based on location and industry. Three years later, or just this Nov. 11, Mr. Marcos signed into law Republic Act No. 12066 or the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act. This law is one of the 28 bills that the Legislative-Executive Development Advisory Council has been pushing for passage before the end of the year. The CREATE MORE Act aims to promote the Philippines as a prime investment destination, building on the game-changing economic reforms introduced under the CREATE Act by making the country’s tax incentives regime more globally competitive, investment-friendly, predictable, and accountable. Under CREATE MORE, the Fiscal Incentives Review Board can grant incentives for investments over P15 billion, with approval for smaller investments delegated to investment promotion agencies. Moreover, the scope of value-added tax (VAT) zero-rating on export sales has been expanded to include the sale of raw materials and packaging materials to nonresident buyers for use by local export-oriented enterprises in manufacturing or processing in the Philippines. Similarly, VAT-exempt transactions now include the importation of fuel, goods, and supplies for international shipping or air transport, and goods imported by export-oriented enterprises with exports exceeding 70 percent of their total production, provided the goods are directly tied to export activities. The attention given to incentives is apt: To attract high-value investments in emerging sectors, the Philippines needs to keep its incentives competitive. Without proactive and continuous improvements, it risks falling behind regional competitors who regularly update their policies to attract global investors. Other laws toward the same end are the Capital Markets Efficiency Promotion Act, amendments to the Foreign Investors Long-Term Lease Act, and the Blue Economy Act. The green lanes for strategic investments were created by Executive Order No. 18 in February 2023. Most importantly, such initiatives need to be complemented as well by efforts toward good governance. No matter the laws in place, investors will ultimately look for how these laws are implemented on the ground, and how the national and local governments conduct themselves. Are the objectives of the law achieved, are regulations reasonable and consistent, is the environment predictable? Do the rules of the game stay the same all throughout? Are the leaders proclaiming adherence to the rule of law, transparency, and accountability actually practicing what they preach? Will there be no changes on a whim, and will there be no vindictive, impulsive acts that run counter to established business and governance principles? Only through a combination of these can the Philippines attract the investment needed to propel its economy forward and maintain its competitive edge in the global market. —————- Subscribe to our daily newsletter By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . Dindo Manhit is founder and CEO of the Stratbase Group.
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Giants look just as awful with Tommy DeVito during humiliating loss to Bucs in first game since Daniel Jones releaseIowa moves on without injured quarterback Brendan Sullivan when the Hawkeyes visit Maryland for a Big Ten Conference contest on Saturday afternoon. Former starter Cade McNamara is not ready to return from a concussion, so Iowa (6-4, 4-3) turns to former walk-on and fourth-stringer Jackson Stratton to lead the offense in College Park, Md. "Confident that he'll do a great job," Iowa coach Kirk Ferentz said of Stratton on his weekly radio show. "He stepped in, did a really nice job in our last ballgame. And he's got a good ability to throw the football, and he's learning every day. ... We'll go with him and see what we can do." Iowa had been on an upswing with Sullivan, who had sparked the Hawkeyes to convincing wins over Northwestern and Wisconsin before suffering an ankle injury in a 20-17 loss at UCLA on Nov. 8. Stratton came on in relief against the Bruins and completed 3 of 6 passes for 28 yards. Another storyline for Saturday is that Ferentz will be opposing his son, Brian Ferentz, an assistant at Maryland. Brian Ferentz was Iowa's offensive coordinator from 2017-23. "We've all got business to take care of on Saturday," Kirk Ferentz said. "I think his experience has been good and everything I know about it. As a parent, I'm glad he's with good people." Maryland (4-6, 1-6) needs a win to keep its hopes alive for a fourth straight bowl appearance under Mike Locksley. The Terrapins have dropped five of their last six games, all by at least 14 points, including a 31-17 loss at home to Rutgers last weekend. "It's been a challenging last few weeks to say the least," Locksley said. The challenge this week will be to stop Iowa running back Kaleb Johnson, who leads the Big Ten in rushing yards (1,328) and touchdowns (20), averaging 7.1 yards per carry. "With running backs, it's not always about speed. It's about power, vision and the ability to make something out of nothing," Locksley said. "This guy is a load and runs behind his pads." Maryland answers with quarterback Billy Edwards Jr., who leads the Big Ten in passing yards per game (285.5) and completions (268). His top target is Tai Felton, who leads the conference in catches (86) and receiving yards (1,040). --Field Level Media
smrm1977/iStock via Getty Images Foreword While half of this collection of Barron’s Better Bets (BBB) is too pricey, or reveals somewhat skinny dividends, six of the ten lowest priced Dogs of the BBB are ready to buy along with three more outside Get The Barron's Better Bets Dividend Story Click here to subscribe to The Dividend Dogcatcher. Get more information and follow-up Dog of the Week portfolios. Catch A Dog On Facebook the evening before every NYSE trade day on Facebook/Dividend Dog Catcher, A Fredrik Arnold live video highlights a portfolio candidate in the Underdog Daily Dividend Show! Root for the Underdog. Comment below on all your favorite, least favorite, and curiosity stock tickers to make them eligible for inclusion in my next FA follower report. Fredrik Arnold is a retired quality service analyst sharing investment ideas with a primary focus on dividend yields by utilizing free cash flow and one-year total returns as trading indicators. Analyst’s Disclosure: I/we have a beneficial long position in the shares of PFE either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.