IN PHOTOS: Eighteen LGUs from the province of Tarlac participated in the seminar on Tuesday 26 July 2022 titled, “Leveraging on Republic Act No. 11534 (CREATE LAW)” led by the Provincial Government of Tarlac headed by Ms. Frances Canlas, Local Economic and Investment Promotion Officer together with the resource speaker Atty. Elyjean DC. Portoza, Director, Legal and Investment Compliance – Board of Investment (BOI) and Subic – Clark Alliance for Development (SCAD) led by Executive Director Atty. Carminda Fabros.
“The Provincial Government of Tarlac (PGT) aims to consistently support the LGUs towards the societal, environmental, and economic progress. Along with the support we strive to give, PGT also targets to provide opportunities for capacity building to be able to mobilize concern departments offices in working better for the community,” Provincial Government of Tarlac said.
Corporate Recovery and Tax Incentives for Enterprise Act (CREATE) aims to provide assistance as the investors are eyeing to develop economic zones in Tarlac province. According to Atty. Portoza, the Strategic Investment Priority Plan (SIPP) must also be prioritized since it will determine who will be eligible for the incentives.
“RA No. 11534 or CREATE Law was passed in April 2021. Prior to this law, the different investment promotion agencies like Subic Bay Metropolitan Authority (SBMA), Board of Investments (BOI), and Philippine Economic Zone Authority (PEZA) administered different sets of incentives,” Atty. Portoza said.
One of the highlights of the event during the open forum is about the challenges encountered by the government to invite investors. A suggestion to harmonize processes of LGUs for the investors was also made. – NAGB