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
September –
5 Sept – Intl Day of Charity
7 Sept – Intl Day of Clean Air for Blue Skies
8 Sept – International Literacy Day
12 Sept – United Nations Day for South-South Cooperation
15 Sept – International Day of Democracy
16 Sept – International Day for the Preservation of the Ozone Layer
17 Sept – World Patient Safety Day
18 Sept – International Equal Pay Day
21 Sept – International Day of Peace
26 Sept – International Day for the Total Elimination of Nuclear Weapons
27 Sept – World Tourism Day
28 Sept – International Day for Universal Access to Information
29 Sept – International Day of Awareness of Food Loss and Waste
30 Sept – World Maritime Day
Monthly Observances:
Health, Safety and Sanitation Month
National Clean-up Month
Civil Service Month
National Peace Consciousness Month
Social Security Month
Rule of Law Month
National Teachers’ Month (Sept 5-Oct 4)
Weekly Observances:
Sept 17 – 23:
World Clean and Green Week
Week 2: Education Week
Week 4: Medicine Week
Last Week: National Family Week
Daily Observances:
Third Saturday:
International Coastal Clean-up Day
Third Monday: World Health Day
Last Friday: National Maritime Day
Sept 8: National Literacy Day
Sept 15: Philippine Medicine Day
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