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PH government to provide incentives to investors with more benefits to consumers, economy

7 February 2013 No CommentEmail This Post Email This Post

President Benigno S. Aquino III welcomes to the Palace German Federal Foreign Minister Dr. Guido Westerwelle who called on  at the Music Room of the Malacañan Palace. Dr. Westerwelle’s visit is a very strong signal of the interest of both the Philippines and Germany to further enhance bilateral relations. To date, Germany is the Philippines’ second largest export market in the European Union (EU), and the second largest source of tourists from Europe. Germany is also the 4th largest bilateral donor of official development assistance (ODA) to the Philippines. Statistics from the Department of Trade and Industry (DTI) shows that trade between the two countries from January to September 2012 amounted to around US$2.6-billion. In photo is German Federal Ambassador to the Philippines His Excellency Dr. Joachim Heidorn. (Malacañang Photo Bureau/Robert Viñas)The government will give incentives to investors wanting to put their money in the Philippines as long as their businesses benefit the consumers and the economy as a whole, a Palace official said on Thursday.

Issues were raised after the Board of Investments (BOI) granted a six-year term tax incentives to a Thai company producing meat products. But the local hog and poultry industries complained that it negatively impacted on their businesses.

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