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)
September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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