Alberto Rubio
The Philippine Embassy presented past Thursday in Madrid the new incentives approved by the Government of Manila to liberalise the entry of foreign investment in the country. Among them is the Corporate Recovery and Tax Incentives for Enterprises, which is the biggest fiscal stimulus for companies in the recent history of the country.
During the conference ‘Philippine Special Economic Zones’, organised in collaboration with the Spanish Confederation of Business Organisations (CEOE), the Director General of the Philippine Economic Zone Authority (PEZA), Tereso Panga, explained to potential Spanish investors that “economic cooperation between Spain and the Philippines will not only translate into mutual benefits for both countries, but that the Philippines can be the gateway to Asia for Spanish investors”.
The meeting was also attended by the Deputy Director of CEOE International, Álvaro Schweinfurth; the Chargé d’Affaires of the Embassy of the Philippines, Mark Francis; the Mayor of San Carlos City, Renato Gustillo; and the President of SCDB, Billy Tusalem.
