The government has approved the P50.7-billion expansion project by Samsung Electro-Mechanics Philippines Corp. (SEMPHIL), making it the first company to secure presidential incentives under the CREATE MORE Act (Republic Act 12066).
The expansion, the largest new investment approved under the law to date, will establish a new high-technology manufacturing facility for multilayer ceramic capacitors (MLCCs).
President Ferdinand Marcos Jr. met with Samsung Electro-Mechanics Co. Ltd. (SEMCO) executives on the sidelines of the 32nd APEC Summit in South Korea from Oct. 30 to Nov. 2.
Special Assistant to the President for Investment and Economic Affairs Frederick Go cited the significance of the approval.
“This is a direct outcome of this administration’s landmark policy reforms. It sends a strong message to the global business community: the Philippines is ready for high-technology, world-class industries.”
The project is expected to create thousands of new jobs and accelerate technology transfer to Filipino workers.
The P50.7-billion expansion will establish a new high-tech manufacturing facility in the Calamba Premiere International Park, with commercial operations targeted by July 2027.
Over 3,500 additional high-skill jobs are expected to be created once the facility is fully operational, on top of over 7,000 Filipinos currently employed.
SEMPHIL serves as SEMCO’s main global production hub for MLCCs—critical components in electric vehicles and smart devices—and accounts for nearly half of SEMCO’s global MLCC output.
The approval for enhanced tax perks under the CREATE MORE Act was finalized after Marcos, along with Go and Trade Secretary Cristina Roque, witnessed the signing of a supplemental agreement between Philippine Economic Zone Authority (PEZA) and SEMPHIL.
The CREATE MORE Act empowers the President to grant incentives to strategic investments upon the recommendation of the Fiscal Incentives Review Board (FIRB).
Qualified projects may receive an income tax holiday, special corporate income tax, value-added tax (VAT) zero-rating on local purchases, and VAT and duty exemptions on imports.
Marcos also noted that Samsung agreed to team up with Philippine universities for training and research and development programs to support the company’s long-term talent pipeline.
Electronics remained the Philippines’ top export in 2024, accounting for nearly 60 percent of total shipments, based on Philippine Statistics Authority data.
