𝐏𝐄𝐙𝐀 𝐰𝐞𝐥𝐜𝐨𝐦𝐞𝐬 𝐬𝐢𝐠𝐧𝐢𝐧𝐠 𝐨𝐟 𝐂𝐑𝐄𝐀𝐓𝐄 𝐢𝐧𝐭𝐨 𝐥𝐚𝐰

 𝐏𝐄𝐙𝐀 𝐰𝐞𝐥𝐜𝐨𝐦𝐞𝐬 𝐬𝐢𝐠𝐧𝐢𝐧𝐠 𝐨𝐟 𝐂𝐑𝐄𝐀𝐓𝐄 𝐢𝐧𝐭𝐨 𝐥𝐚𝐰

April 7, 2021 (Wednesday)

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The Philippine Economic Zone Authority has welcomed the signing of a new law Republic Act. No. 11534, or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, by President Rodrigo Duterte last March 26, 2021.

The CREATE Law aims to gradually lower the corporate income tax from 30% to 25% and streamline the government’s fiscal incentives for investments both covering foreign and domestic enterprises.

PEZA Director General Charito “Ching” Plaza has expressed gratitude to the President and the Congress for considering most of the concerns and suggestions from the industry associations and PEZA-registered export industries that had been expressed and submitted to the House of Representatives and the Senate since the deliberations began as TRAIN 2, to CITIRA, and now the CREATE Law.

“We are happy with the final CREATE Act after all those years of struggle. We recognize the need to gradually change and reform the national tax or revenue system yet at the same time address the need to maintain and attract investors’ confidence in the Philippines, especially during this time of the pandemic,” said Plaza.

The PEZA Chief added, “Although CREATE may offer 'win some, lose some' opportunities for the different industries, we are glad that CREATE sustained our argument and has placed a high premium on export-oriented enterprises with their availment of superior fiscal incentives particularly for new projects that will be applied with the IPAs like PEZA.”

“Now that the passage of CREATE law is done, it creates stability in taxation regime and PEZA as the top export-oriented investment promotion agency can aggressively pursue marketing and promotion of our economic zones to global investors,” she added.

The PEZA Chief said that there’s a need to communicate to existing and new investors the impact of the CREATE law to export-oriented industries while pushing the momentum and efforts to attract investments through marketing and promotion activities.

𝐄𝐱𝐭𝐞𝐧𝐬𝐢𝐨𝐧 𝐨𝐟 𝐚𝐯𝐚𝐢𝐥𝐦𝐞𝐧𝐭 𝐨𝐟 𝐢𝐧𝐜𝐞𝐧𝐭𝐢𝐯𝐞𝐬 𝐟𝐨𝐫 𝐞𝐱𝐢𝐬𝐭𝐢𝐧𝐠 𝐑𝐁𝐄𝐬

One of the items vetoed by the President which may have a big effect on the country’s existing foreign direct investors is the removal of the extension of availment of tax incentives by existing registered business enterprises (RBEs) given that the "extension of incentives for existing projects is unfair to ordinary taxpayers / unincentivized enterprises and further, only new activities and projects deserve fresh incentives."

Under CREATE, RBEs have no choice but to make do with the 10-year sunset period (after the lapse of ITH) and thereafter, graduate to the regular 25% CIT rate.

As explained by Deputy Director General for Policy and Planning Mr. Tereso Panga, “This scenario could be a make or break for the Philippines as the affected ecozone locators, for example, might decide to retain their facilities and invest in new projects to be entitled to a longer ITH and SCIT period (total of 14- 17 years) or worse, they might just pack up and transfer to a more willing host-country that can offer better incentives for their investments as their availment of more advantageous incentives for sunk projects with the IPAs prior to CREATE were cut short by the mandatory sunset period for RBEs.”

Nevertheless, Plaza remains hopeful that the locator companies will be able to cope with the new conditions and the Philippine economy will be able to bounce back with a much inclusive growth for the country.

“We believe that effective governance will be pivotal in our resolve to retain, expand and attract investments into the ecozones under the CREATE regime, and in due time, our existing locators will be able to adjust to CREATE and continue to secure their investments in the Philippines,” she said.

PEZA is currently preparing its inputs to the Implementing Rules and Regulations (IRR) of the RA 11534 and will soon conduct a series of dialogue with its locator companies to further discuss the impact or benefits of the CREATE Law to PEZA and its registered enterprises.

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Reference: PEZA facebook page=https://www.facebook.com/PEZAPH/

Yamaha Motor Philippines, Inc. at Lima Technology Center

YAMAHA MOTOR PHILIPPINES OFFICE: 

Head Office:
Lots 1&2, Block 17, Phase I, LIMA Technology Center, Malvar, Batangas
Telephone no.: (043) 455-1900
Fax no.: (043) 981-2459

photos taken from: Yamaha Facebook Recruitment page

 

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PEZA Chief welcomes the Inauguration of the Manufacturing Plant Expansion Project of Yamaha Motor Philippines, Inc. at Lima Technology Center, Special Economic Zone, Batangas 

23 February 2021 (Tuesday)

Davao City – The Philippine Economic Zone Authority (PEZA) Director General Charito “Ching” Plaza attended the Inauguration of the Manufacturing Plant Expansion Project of Yamaha Motor Philippines, Inc., (YMPH) yesterday, February 22, 2021, at the Lima Technology Center, Malvar, Batangas. The PEZA Chief attended the said Inauguration on Monday.

The Inauguration formally marks the start of operation of the PEZA approved plant expansion with Supplemental Agreement last January 15, 2020. This is also Yamaha’s testament to their commitment to further business operations in the Philippines.

Yamaha Motor Philippines, Inc. has been with PEZA since its registration on September 5, 2007. This is part of PEZA’s aim to attract Japanese companies to locate and invest here in the Philippines.

Director General Plaza expressed her appreciation and gratitude to locator companies’ continued operations such as the YMPH for keeping the Philippines afloat and protected amidst the COVID-19 pandemic, thus preserving the welfare of our countrymen, our country’s economy, and the jobs of Filipinos.

“PEZA welcomes YAMAHA’s Expansion Project especially during this time that we are reeling from the uncertainties at hand,” Plaza said. The PEZA Chief also emphasized that PEZA has always been supportive of these relative projects as it aims to encourage locators not to leave nor transfer but to expand and continue operations in economic zones amidst the pandemic.

This is also a significant event for the YMPH President Hiroshi Koike as this is his first time setting up a new factory in the Philippines in his 34 years working in Yamaha Motor. According to Koike, with the pandemic shifting the mode of public transportation from commuting to personal use of mobility, there is an increase in the demand for automatic models. “Generating a huge number of products will result to creation of more jobs roughly about 1500 employees for old factory and additional recruitment of 1300 workforce for this newly-built factory. This is in line with our corporate social responsibility in contributing to the enhancement of the Philippine economy,” Koike said.

YMPH aims to continuously cooperate with PEZA in expanding their business in order to also fulfill the mission of Yamaha Motor Philippines which is having the highest

growth in the motorcycle industry among ASEAN countries and to take pride in impressing the Filipino people by creating products that are beyond expectations.

As PEZA continues to do its best in promoting the creation of economic zones especially in the countryside, Plaza encourages locator companies to retain this in the entire nation and attain much inclusive growth for the Philippines. “We look forward to strengthening our partnership with you to achieve our goal of transforming the Philippines to become an investment haven in Asia.” PEZA Chief said

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Ref:

1. http://www.peza.gov.ph/index.php/press-release/172-peza-chief-welcomes-the-inauguration-of-the-manufacturing-plant-expansion-project-of-yamaha-motor-philippines-inc-at-lima-technology-center-special-economic-zone-batangas

2.

Nidec Philippines Corporation

      c= photo from Google Map

Nidec Philippines Corporation

Nidec Philippines Corporation manufactures computer storage devices. The Company provides products which includes spindle motors, pivot assesemblies for HDDs, small brushless DC motors, mid size brushless DC motors, and fan motors. Nidec Philippines distributes its products worldwide.

Business= Manufacturing of Spindle Motors for HDDs

Address = 136 North Science Avenue Extension, Laguna Technopark Special Economic Zone, Binan, Laguna 4024, The Philippines

Tel= +63-49-541-1111

www.nidec.co.jp

ref: 

https://www.nidec.com/en/corporate/network/factory/philippines_p

https://www.bloomberg.com/profile/company/0191918D:PM

 

Samsung Electro-Mechanics Philippines Corp.(SEMPHIL)

 






























Samsung Electro-Mechanics Philippines Corp. (SEMPHIL) was established in July 1997 and
is located at the city of Calamba, Laguna. SEMPHIL started its mass production by February 2000 and formally inaugurated November of year 2000.

SEMPHIL manufactures Multi-Layer Ceramic Capacitor (MLCC), Tantalum Capacitor, Inductor and Chip Resistor which are commonly used in electronic gadgets. In 2008, SEMPHIL started to be recognized and was given several awards by PEZA including Hall of Fame Award as one of the Best Employer in the Philippines.

Location : Calamba Premiere International Park, Batino, Calamba City, Laguna 4027
Main Contact : +63-49-508-8300

photos from: 

https://corporatepartners.meralco.com.ph/success-stories/samsung-electro-mechanics-phils-credits-meralco-partnership-key-component-top-line

  https://foursquare.com/v/samsung-electromechanics-philippines-corporation/4f7d8ddbe4b0393e98ba73ec?openPhotoId=5433949a11d275feadb4adbf

PRESIDENT Duterte’s approval of 12 new economic zones in the first half of 2020

P6-billion business eyed in new ecozones

ByElijah Felice Rosales

June 11, 2020 , https://businessmirror.com.ph/

 

      Photo taken from: https://qwerty432blog.wordpress.com/2016/12/08/first-blog-post/

PRESIDENT Duterte’s approval of 12 new economic zones in the first half of the year is seen to have secured for the economy more than P6 billion worth of investments at a time the government is struggling to attract capital to the Philippines.

According to the Philippine Economic Zone Authority (Peza), the President’s proclamation of 12 new industrial parks across the country will bring in P6.4 billion of investments. Duterte signed the papers between January and June licensing their operations as economic zones.

Mostly located in Luzon, the first half approvals are made up of nine information technology (IT) centers, two manufacturing zones and one IT park, disclosed Peza Director General Charito B. Plaza on Wednesday.

“Peza is grateful to the President for his wise approval for the proclamation of new ecozones in the country amid the Covid-19 pandemic,” Plaza said. “Once export companies invest in these newly proclaimed ecozones, these will surely multiply investment and economic activities and opportunities in the Philippines.”

“Majority of the new ecozones—composing 67 percent of the total—will be located in Luzon, whereas the other 33.33 percent will be positioned in the Visayas and Mindanao,” she added.

The President issued the proclamations of Abiathar Commercial Complex, TDG Innovation and Global Business Solutions Center, Ayala Bacolod Capitol Corporate Center and Silver City 4, all of which are IT centers, in January. During the same month, he signed the papers of Millennium Industrial Economic Zone, a manufacturing park.

In May and June the Chief Executive authorized IT centers GLAS Office Development, Bench City Center, Ortigas Technopoint Tower 1 & 2, NEX Tower and Robinsons Luisita 2 to operate as economic zones.

During the same period, manufacturing park Davao del Sur Industrial Economic Zone received the green light from Malacañang. IT park Batangas State University Knowledge, Innovation and Science Technology Park also got its presidential nod.

 ref:

https://businessmirror.com.ph/2020/06/11/p6-billion-business-eyed-in-new-ecozones/

COVAC PHILIPPINES, INC

  COVAC PHILIPPINES, INC

For more than four decades, Covac Co. Ltd. is guided by its commitment to provide highly reliable rubber products to customers. Established on September 8, 1978, COVAC delivers products in touch with people for many years. Products ranging from automotive and in-vehicle devices to electronic devices, watches, cameras, rubber keypads, and gaskets.

And now COVAC has found a remarkable strategic location in the Philippines at the Lima Technology Center in Lipa City, Batangas.  Sitting on 600 hectares of land, the technology center boasts of international plants as well. Hence on March 16, 2018, COVAC PHILIPPINES, INC. was established.  With COVAC Co. Ltd. promoting operations in the Philippines as a future main plant, it offers highly accurate mass-produced products to customers all over the world.

 The Philippines factory was established in 2018 to strengthen international competitiveness. In order to provide highly accurate mass-produced products to customers all over the world, we are promoting operations as a future main plant.

Blk 6-13 and 6-15 Amplefield SME Park, J.P. Rizal Avenue, LIMA Technology Center
Lipa, Batangas 4217

Get Directions

(043) 236 3069

 

 

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Ref. :

https://www.covac.com.ph/