Republic Act No. 12066, or the “CREATE MORE” law, has expanded investment incentives to make the Philippines more competitive against regional peers including Vietnam, Thailand, and Indonesia in attracting foreign direct investment, with the resulting job creation keeping unemployment relatively low, Finance Undersecretary Karlo Fermin Adriano said Saturday.
Adriano made the disclosure in an interview on DZRH News program Special on Saturday on August 8, as part of the DZRH SONA 2026 Series featuring the Department of Finance (DOF).
“Under the CREATE MORE, marami na po tayong nabigyan ng mga incentives. Nandito na po ‘yung investment, nagsimula na po ang investment. At kapag nagsimula po ang investment, ang pagbi-business, nandiyan po ang translation na mas maraming trabaho,” Adriano said.
Finance Secretary Frederick Go explained the rationale for investment incentives, saying foreign investors can place their capital anywhere in the world and the Philippines must compete aggressively to attract them.
“Ang mga foreign investors natin, pwede silang maglagay ng mamumuhunan anywhere in the world. Pwede silang pumunta ng Thailand, pwede silang pumuntang Vietnam, pwede silang pumuntang Indonesia. Bakit nila pipiliin ang Pilipinas? So kailangan ang mga incentives na binibigay natin sa kanila ay competitive,” Go said.
He said every investment that fails to come to the Philippines means jobs going to another country instead, making competitive incentive policy a direct jobs issue for Filipino workers.
Adriano said the CREATE MORE law is part of a broader package of economic reforms under the Marcos administration that have contributed to the Philippines’ 5.8% average GDP growth over the past four years.
Go said the government will continue to refine and strengthen investment incentive policy to ensure the Philippines remains an attractive destination for capital as global competition for investment intensifies.
