#Investment

Foreign direct investments and multinational companies who have branches in many countries of the world weigh the efficiency factors that contribute in lowering the cost of production, of profitability, and in doing business," the PEZA Director General added. In a subsequent statement issued June 15, meanwhile, the FIRB cited PEZA as "clueless" on actual investments made by locators since the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, citing 12 of 196 PEZA-registered business enterprises (RBEs) having no information on investment capital. "PEZA did not give us the data on the actual investment. It pointed out in a statement also released June 15 that it submits its monthly reports on Approved Foreign Investments to the Office of the Secretary-Department of Trade and Industry (DTI) on a quarterly basis, to the Philippine Statistics Authority (PSA). "PEZA is confident that benefits of incentives to investments outweigh the foregone taxes; hence, we find the statement by FIRB practically erroneous, misleading and intends to embarrass PEZA as an Investment Promotion Agency (IPA)," Plaza said. The industry group believes that it would often be a "tiebreaker" when it comes to BPO investment considerations. "Terms and conditions of investment registrations must be honored and upheld, including the grant of fiscal and non-fiscal incentives. Read more in our articles including "Gov't says tax incentives 'not that important' for BPOs as RTO mandate remains" and "GCash GInvest now open to all".