European urged to invest in PH’s IT-BPM industries
The Department of Trade and Industry (DTI) urged European firms to invest in the Philippines’ electronics and Information Technology-Business Process Management (IT-BPM) industries.
According to Trade Secretary Ramon Lopez, despite the pandemic, it is still a good time to invest in the Philippines, especially with the recent enactment of the Corporate Recovery and Tax Incentives for Enterprises (CREATE Act), a measure that lowered corporate income tax (CIT).
Last year, European companies invested P23.4 billion in the Philippines. In addition, Europe is the country’s fifth-largest trading partner with exports and imports amounting to $7.3 billion and $6.5 billion.
Other top European investors include the UK, the Netherlands, and France.
