The Board of Investments (BOI) will lead the first stop of the international roadshow for Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) in Seoul, South Korea on April 7.
The BOI said Philippine Business Forum next week at the Grand Hall of the Korea Chamber of Commerce and Industry in Seoul forms part of the overseas investment promotion of the Philippine government to attract foreign investors into the country following the signing of the CREATE MORE implementing rules and regulations on Feb. 17.
The forum will gather top government officials, industry leaders, and stakeholders from the Philippines and South Korea to explore investment opportunities in the country in the electronics and semiconductors, clean energy, electric vehicle and critical mineral processing, high-tech agriculture, and logistics sectors.
Special Assistant to the President for Investment and Economic Affairs Secretary Fredrick Go, Korean Minister of Trade, Industry, and Energy Ahn Duk-geun, and Philippine Ambassador to Korea Maria Theresa Dizon-De Vega are expected to give speeches during the forum.
Part of the Philippine delegation are BOI Executive Director Ma. Corazon Halili-Dichosa, Department of Energy Director Patrick Aquino, Semiconductor and Electronics Industries in the Philippines Foundation, Inc. president Dan Lachica, Electric Vehicle Association of the Philippines president Edmund Araga, and Widus International Leisure, Inc. president Han Dae Sik, who will discuss sectoral developments and insights.
The BOI said CREATE MORE further improves the investment climate in the Philippines through targeted investments, streamlined processes, and expanded support for high-impact industries.
“It strengthens tax benefits for foreign and domestic investors, fosters innovation and research-driven enterprises, and promotes greater ease of doing business. These measures position the Philippines as an even more competitive and attractive destination for global investors, particularly in sectors like electronics and semiconductors, clean energy, EV and critical mineral processing, high-tech agriculture, pharmaceuticals, infrastructure, and logistics,” it added.
The CREATE MORE roadshow also aims to strengthen economic ties between Manila and Seoul after the signing of a free trade agreement in October 2023.
“With its implementation in full swing, both nations are advancing impactful initiatives to unlock greater avenues for trade, investments, and sustainable growth,” the BOI said.
Philippine Statistics Authority data show that South Korea has becmme the country’s second-largest source of foreign investment approvals in 2024 amounting to more than P100 billion. (With PNA)