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Makati City skyline on February 20, 2024. Mark Demayo, ABS-CBN News

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Makati Skyline

Michelle Ong

ABS-CBN News

<div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/HyiNOM3LEgw?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span>MANILA -- The Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities (<a href="https://www.abs-cbn.com/business/2024/11/11/economic-team-hails-signing-of-create-more-act-1259" rel="noopener noreferrer" target="_blank">CREATE MORE</a>) law can help insulate the Philippines from the effects of trade tariffs, a representative of foreign business groups said Monday.</div><p>&quot;You know, the CREATE MORE law, I feel, is one that is really meant to insulate us in many respects, in so far as this entire global uncertainty is emerging. I guess it couldn&#x27;t have come at a better time,&quot; said Chris Ilagan, co-chair of the American Chamber of Commerce in the Philippines (AmCham)&#x27;s legislative committee.</p><p>Ilagan is also president of the Canadian Chamber of Commerce of the Philippines. The US and Canada are in a trade war after US President Donald Trump imposed tariffs on Canadian imports. </p><div><a href="https://www.abs-cbn.com/news/business/2025/3/4/trump-triggers-trade-war-price-hikes-with-tariffs-on-canada-china-and-mexico-0700" rel="noopener noreferrer" target="_blank">EXPLAINER: Trump triggers trade war, price hikes with tariffs on Canada, China and Mexico</a></div><div><a href="https://www.abs-cbn.com/news/world/2025/3/11/trump-doubles-down-on-canada-trade-war-with-major-tariff-hike-1217" rel="noopener noreferrer" target="_blank">Trump doubles down on Canada trade war with major tariff hike</a></div><p>Ilagan said CREATE MORE can help the Philippines attract more foreign direct investments.</p><p>&quot;At that time, again, we weren&#x27;t thinking of all this global uncertainty emerging,&quot; Ilagan said.</p><p>&quot;But now [it] puts us in a good position to be able to attract foreign investors who are looking at markets that are growing in their own right as domestic markets or as platforms potentially for further export-oriented trade,&quot; he said.</p><p>He stressed, however, that the law must still be implemented properly.</p><p>&quot;Is the VAT refunding system happening as envisioned under the law? Are there any bottlenecks in availing the incentives? Right? Are the various government agencies in sync with each other? Are they following the spirit of what&#x27;s contained in CREATE MORE?&quot; he said.</p><p>&quot;It&#x27;s not a reform, per se, but it needs to happen in order for us to show that this create more is a credible law and one that actually delivers on the sorts of incentives that it has promised to deliver as envisioned,&quot; he said.</p><p>--ANC, 1 April 2025</p>

<p>The CREATE MORE law can help insulate the Philippines from the effects of trade tariffs, a representative of foreign business groups said.</p>

The CREATE MORE law can help insulate the Philippines from the effects of trade tariffs, a representative of foreign business groups said.

CREATE MORE Law may shield PH from tariff troubles: foreign biz groups

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CREATE MORE Law may shield PH from tariff troubles: foreign biz groups

Michelle Ong,

ABS-CBN News

Published Apr 01, 2025 02:52 PM PHT

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