9 months Investment pledges up; Train ‘not a turnoff’ Manilatimes |Biz
Total foreign investment pledges approved by the seven investment promotion agencies (IPAs) soared in the fourth quarter of 2018, prompting the National Economic and Development Authority (Neda) to reiterate the government tax reforms are not scaring investors away. Socioeconomic Planning Secretary Ernesto Pernia said the high growth in investment pledges means that the government’s second package of the tax reforms which seeks to rationalize incentives, is “not a turnoff.” “Some firms are also shifting [to the Philippines] from China, United States, and UK. Philippines has been touted in international media as among top investment destinations, given [the] string [of] fundamentals ... more