Senate President Win Gatchalian called for a comprehensive implementation of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act, or CREATE MORE, to enhance investor confidence and support economic growth.
Even though business sentiment in the country became less pessimistic in August, as reflected in the latest Business Expectations Survey, the business confidence index remained in negative territory during the month, weighed down by adverse weather conditions, elevated inflation, persistent oil price increases, cautious consumer spending on leisure and travel, and higher production and operating costs.
Gatchalian emphasized that CREATE MORE is not just about giving additional incentives to investors but more about creating a chain reaction in the country’s economic development.
“Kung tuloy-tuloy ang pamumuhunan sa bansa, mas dadami ang trabaho at makakatulong ito para mapataas ang koleksyon ng buwis,” the veteran legislator said.
“Sa panahon na maraming iniinda ang mga mamumuhunan, kagaya ng mataas presyo ng kuryente at raw materials, kumpiyansa tayo na ang CREATE MORE ay magbibigay sa atin ng competitive advantage.”
“Sa panahon na maraming iniinda ang mga mamumuhunan, kagaya ng mataas presyo ng kuryente at raw materials, kumpiyansa tayo na ang CREATE MORE ay magbibigay sa atin ng competitive advantage,” the seasoned lawmaker added.
Republic Act No. 12066, or the CREATE MORE Act, took effect in November 2024.
Sponsored and principally authored by Gatchalian, the law amended the original CREATE Act to enhance tax incentives and attract more local and foreign investments.
