00:00For the economy to take off, more foreign investors should make their way here and set up shop.
00:05But the conditions have been on their side, beginning with the ease of doing transactions and more cost-cutting
00:12or cost-benefit measures to motivate them to put their money here and let it grow.
00:17The latest Create More enacted legislation, inked earlier today,
00:21will help greatly create such conditions and spur investor activity, as our Daniel Manalastas reports.
00:31More jobs lead to Philippines more appealing to new investors.
00:35This is what some senators believe is the main offshoot of the Create More Act.
00:40Senate President Francis Chiz Escudero said,
00:43Create More seeks to encourage more investors to come to the Philippines
00:47by providing a more predictable, sustainable, and level playing field.
00:52He added this is in line with their commitment in the Senate to make life easier for Filipinos.
00:57And for those who choose to do business here in the country.
01:00Senator Sherwin Gatchalian said,
01:02Through Create More, projects and activities beneficial to the country like food security will be assured of support.
01:10For our new investors, they will benefit because the incentives we will give them when they invest here in our country are wider and longer.
01:23Meanwhile, Senator Juan Miguel Zubiri believes
01:26the Create More Act will cut red tape in the investment sector.
01:30Zubiri explained they wanted to straighten out and simplify the process of VAT refunds
01:36as this has been an issue for many major locators to the Philippines.
01:41The senator added that if existing investors are losing billions here,
01:45it is but logical for them to leave as Create More aims to solve this issue.
01:51Daniel Manalastas from the National TV for a new and better Philippines.
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