MANILA, Philippines – The Japan International Cooperation Agency (JICA) said that even if President Aquino is wooing displaced Japanese firms to locate in the country, the absence of a Philippine rescue incentive package makes other countries more attractive.
“Even if President Aquino expressed his desire to invite Japanese manufacturers suffering from the disasters, the Philippines cannot come up with a rescue incentive package,” Masaharu Oshima, the investment adviser of JICA said in his memorandum to the Board of Investments (BOI).
“Thailand BOI is considering a special incentive package tailored for such Japanese manufacturers and it will be approved by the BOI board meeting according to Thai Prime Minister,” Oshima added.
Trade Secretary Gregory L. Domingo is set visit to Japan this week to convince affected Japanese firms to locate in the Philippines.
However, Oshima said that under the current Philippine constitution and law, the BOI needs approval from the Senate and Congress before changing the incentive scheme for investors. This is why the Philippines cannot offer affected Japanese firms a rescue incentive package.
On the other hand, the BOI in Thailand does not require legislative approval to change their incentive scheme that is why they can act swiftly.
“We have to change our legislation system and consolidate all the IPA into one strong BOI which has a free hand to make incentive package,” Oshima said.
A study by the local BOI showed that the Japan-based operations of Honda, Nissan, Mitsubishi, Toyota and Suzuki have shortened their operations or temporarily suspended operations due to intermittent power supply and the difficulty in procuring certain parts.
The manufacturing plants of auto firms in the Philippines have excess capacity. The current operations here are relatively normal but their inventory can last only until mid-April. Beyond this, it is anticipated that overall parts supply situation will have to be worked out. –Ma. Elisa P. Osorio (The Philippine Star)
World Day for Safety and Health at Work
“Safety and health at work every day!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
Last Week of April – World Immunization Week
Daily Observances:
Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
