PCCI backs tax and duty-free perks
To Clark and other special ecozones
PCCI backs tax and duty-free perks
The Philippine Chamber of Commerce and Industry (PCCI) yesterday lent its support to Joint Resolution No. 9 confirming the grant of tax and duty free incentives to the Clark Special Economic Zone and other special economic zones created under Republic Act No. 7227.
PCCI President Donald G. Dee said that the very nature and purpose for which economic zones are created are very explicit and specific under RA 7227, and that is to develop the former military bases into a self-sustaining, industrial, commercial, financial and Investment center to generate employment opportunities in and around the zone and to attract and promote productive foreign investments for the benefit of the Philippine economy as a whole.
Citing the grave implication of the SC ruling nullifying the granting of incentives enjoyed by locators and investors of Clark Special Economic Zone, Dee said that huge amount of capital, as in billion of pesos, were invested in the establishment and operation of businesses in the socalled secured area. These investment have also created thousands of new jobs, and to drive these investors away, especially at this time that we are currently facing serious fiscal and political difficulties, might worsen the countrys current economic condition.
Dee added that the main thrust of RA 7227 is to provide established guidelines in the conversion of former military bases into viable economic growth areas generating jobs and investments to enhance countryside development.
"Our policies should always be consistent to attract and sustain investor confidence. These policies should not run contrary to our objectives of promoting long-term investments in the country," Dee said.
Dee also proposed to revisit the contracts of the concerned investors and locators affected by the SC decision because the conditions under the said contracts were vital considerations for their decision to invest in the country.
Joint Resolution No. 9 is a reiteration of the previous of RA 7227, seeking to confirm its legislative intent of granting tax and duty free incentives to all special economic zones.
PCCI backs tax and duty-free perks
The Philippine Chamber of Commerce and Industry (PCCI) yesterday lent its support to Joint Resolution No. 9 confirming the grant of tax and duty free incentives to the Clark Special Economic Zone and other special economic zones created under Republic Act No. 7227.
PCCI President Donald G. Dee said that the very nature and purpose for which economic zones are created are very explicit and specific under RA 7227, and that is to develop the former military bases into a self-sustaining, industrial, commercial, financial and Investment center to generate employment opportunities in and around the zone and to attract and promote productive foreign investments for the benefit of the Philippine economy as a whole.
Citing the grave implication of the SC ruling nullifying the granting of incentives enjoyed by locators and investors of Clark Special Economic Zone, Dee said that huge amount of capital, as in billion of pesos, were invested in the establishment and operation of businesses in the socalled secured area. These investment have also created thousands of new jobs, and to drive these investors away, especially at this time that we are currently facing serious fiscal and political difficulties, might worsen the countrys current economic condition.
Dee added that the main thrust of RA 7227 is to provide established guidelines in the conversion of former military bases into viable economic growth areas generating jobs and investments to enhance countryside development.
"Our policies should always be consistent to attract and sustain investor confidence. These policies should not run contrary to our objectives of promoting long-term investments in the country," Dee said.
Dee also proposed to revisit the contracts of the concerned investors and locators affected by the SC decision because the conditions under the said contracts were vital considerations for their decision to invest in the country.
Joint Resolution No. 9 is a reiteration of the previous of RA 7227, seeking to confirm its legislative intent of granting tax and duty free incentives to all special economic zones.
mb.com.ph/business
posted by Anonymous at
7:50 AM
1 Comments:
Blogs can help boost a career or sink it
PHILADELPHIA - Terrence Ryan knew Scott McNulty in passing at the University of Pennsylvania's ... and Sun Microsystems Inc.
Hey, you have a great blog here! I'm definitely going to bookmark you!
I have a golf putters site. It pretty much covers golf putters related stuff.
Come and check it out if you get time :-)
By
Anonymous, at 9/14/2005 7:54 AM
Post a Comment
<< Home