PH EMBASSY HIGHLIGHTS FTA AND NEW OPPORTUNITIES IN INVESTMENTS AT SPECIALIZED PANEL HOSTED BY THE ECONOMIST

During the panel discussion, Commercial Counselor Dinsay discussed business opportunities in the Philippines for Korean companies in Electric Vehicles (EV) and EV batteries, mineral processing, electronics, and semiconductors. He also provided an overview of the incentives foreign investors will receive under the Philippines' Corporate Recovery and Tax Incentives for Enterprises Act [CREATE].

The panel also highlighted the new era the signing of the PH-ROK Free Trade Agreement ushers in for business and private enterprises. A new pathway for deeper business and investor collaboration, the signing of the comprehensive and groundbreaking Philippines - Republic of Korea free trade agreement brings many economic advantages to both nations in areas such as the automotive industry, information technology and electronics, smart farms, and the public health sector. Signed on 7 September 2023 at the sidelines of the 43rd Association of Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia, the PH-ROK FTA will also strengthen ASEAN-ROK economic ties and foster closer cooperation for prosperity in the region. END