Pres. Marcos Jr. expected to sign CREATE More Act

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00:00President Ferdinand R. Marcos Jr. is expected to sign the CREATE MORE Act.

00:05Meanwhile, World Bank applauds the country's progress for strong job growth and poverty reduction.

00:11This and other stories in tonight's Business News Wrap-Up by Kate Renya.

00:18President Ferdinand R. Marcos Jr. is expected to sign the CREATE MORE or

00:23Corporate Recovery and Tax Incentives for Enterprises to maximize opportunities

00:28for reinvigorating the economy. Senate President Francis Escudero confirmed it

00:33and said the president will sign the proposal on November 11.

00:36CREATE MORE is one of the top priorities of the administration.

00:40This proposal aims to encourage more businesses to enter the country.

00:44According to Escudero, he is confident the proposal will pass because it has been well-coordinated with the president's office.

00:52The World Bank Managing Director of Operation ANOPTURED praised the Philippines for strong job growth and in reducing poverty.

01:00As of August 2024, unemployment is at 4%, with 49.2 million employed, and the poverty rate dropped to 15.5%.

01:09Finance Secretary Ralph Recto aims to reduce poverty to 9% by 2028.

01:15A new high-level advisory council on jobs will focus on creating opportunities for youth and women.

01:21The Philippines seeks help in attracting private investments and improving job sectors.

01:28Finance Secretary Ralph Recto secured support from the World Bank for the Philippines' agriculture sector and human capital development

01:35during the World Bank International Monetary Fund Annual Meetings in Washington, D.C.

01:41The World Bank will help improve productivity and incomes for farmers and modernize agriculture.

01:47They also plan to enhance education to benefit the country's young population.

01:52Kate Renya, from The National TV, for a new and better Philippines.

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