The Philippines approved 895 projects with P932 billion in committed investments under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy, or CREATE MORE Act, from November 2024 to June 2026.
“These figures are proof that our reforms are attracting investments, creating opportunities, and delivering tangible results for the economy,” Finance Secretary Frederick D. Go said in a keynote speech at the Economic Journalists Association of the Philippines Economic Forum on Friday.
The CREATE MORE Act, signed by President Ferdinand R. Marcos, Jr. in November 2024, cut the corporate income tax to 20% from 25% for registered business enterprises under the enhanced deduction regime.
Mr. Go said the CREATE MORE law is among several reform bills meant to improve the country’s investment climate. The other measures are the Public-Private Partnership Code, Capital Markets Efficiency Promotion Act, Green Lanes for Strategic Investments, Investors’ Lease Act, Accelerated and Reformed Right-of-Way Act and Enhanced Fiscal Regime for Large-Scale Metallic Mining Act.
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