Malaysia’s MTD to invest P12bn in PH
Malaysia-based engineering conglomerate MTD Capital’s subsidiary MTD Philippines disclosed its plans to invest P12 billion (US$236.5 million) for the next six years in the country.
In an online forum, MTD Philippines President and CEO Patrick Nicholas David said that this venture is made possible by the tax incentives that they have received from the Philippine Economic Zone Authority (PEZA).
As a PEZA-registered business, MTD was granted several fiscal incentives including a four-year income tax holiday and import tax exemptions for equipment, tools, and goods that are going to be used for their operations.
They are also given a zero value-added tax on local purchases and exemption from payments government taxes and licenses, except real estate.
The majority of MTD’s projects in the country are located in the Clark Freeport Zone. The company had also entered into a joint venture with Bases Conversion Development Authority (BCDA) to develop the national government administrative center.
In addition, MTD constructed the sports facility used during the 30th ASEAN games last 2019.
