Past Events

Ceferino S. Rodolfo, Undersecretary, Industry Development and Trade Policy Group (IDTPG), Department of Trade and Industry, The Philippines, held a virtual meeting with Chamber CEO George Leung, Asia & Africa Committee Chairman Nigel Collett, and members on 2 December to discuss the Philippines’ latest investment landscape and how the two economies can work closer together. 

Rodolfo said that the Philippines was actively seeking foreign investment especially in the manufacturing and technology sectors. The government will soon sign a new tax law to lower corporate taxes from 30% to 25% for big corporations and 20% for SMEs. It will also expand its income tax holiday from the current 4 years to 7 years, and provide tax deductions for a further 10 years in specific areas such as R&D and staff training.

With the country recently having signed the RCEP, Rodolfo expected greater economic collaboration in the region. He said although Hong Kong was not part of the agreement as an individual entity, it could play an important role as a gateway to connect countries in the region to the Greater China market, and supported its proposal to join RCEP.