P50.7-B Samsung expansion to create 3,000 jobs in PH – PBBM

President Marcos announced that South Korean tech giant Samsung will pour some P50.7 billion into expanding its operations in its Calamba, Laguna facility, a move expected to create at least 3,000 new jobs and strengthen investor confidence in the country's economy.

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Speaking to reporters after the APEC Summit, Marcos said Samsung's expansion was made possible through the government's fiscal reforms, such as the CREATE MORE law, which provides tax incentives to large-scale investments exceeding P50 billion.

"Samsung has already employed 8,000 Filipinos in their very high-tech manufacturing plant. They asked me if we could help them with their expansion in the Philippines — mabuti na lang meron nang (good thing we now have the) CREATE MORE, which qualifies large investments for tax exemptions," he said.

The President said the company's commitment reflects growing trust in the country's economic climate and reform efforts.