Gov't Finalizing Perks for Samsung's P50-B Manufacturing Plant

The government hopes to finalize within the first half the incentives to be given to technology giant Samsung, which is looking to invest over P50 billion for manufacturing in the country.

- By Louella Desiderio

Special Assistant to the President for Investment and Economic Affairs Frederick Go told reporters on the sidelines of The Philippine Manufacturing Team's CREATE MORE forum that he is hopeful the discussions on incentives to be provided to Samsung would be completed within the first half.

"I believe they're rushing the interagency discussions," he said.

Earlier this month, Finance Secretary Ralph Recto said in a Bloomberg TV interview that Samsung is in talks with the Philippine government for a possible investment of over P50 billion.

While the CREATE MORE Act defines incentives for investments below P50 billion, Go said the incentives can be tailored for those investing P50 billion and above.