The recently enacted CREATE MORE Act is giving a significant push to the Luzon Economic Corridor 2(LEC) initiative, attracting the attention of trilateral partners, the United States and Japan.
During the 3rd LEC Steering Committee meeting held at Malacañang in mid-November 2024, representatives from both countries recommended that Philippine officials conduct a comprehensive roadshow to promote the benefits of this landmark legislation.
“We are planning to launch the roadshow as soon as the implementing rules and regulations (IRR) of CREATE MORE are finalized,” said Special Assistant to the President for Investment and Economic Affairs Frederick Go.
He said the Board of Investments (BOI), in collaboration with the Investment Promotion Agencies (IPAs), will organize the roadshow to target countries with a strong interest in investing in the Philippines.
“Our goal is to highlight how CREATE MORE creates a more predictable regulatory environment for investors,” Go said.
The IRR is expected to be completed by February 2025, after which the roadshow will be launched.
Among the countries being considered for the roadshow are the US, Japan, South Korea, and members of the European Union.
The LEC initiative, since its launch in April, has continued to generate interest from various countries eager to tap into the economic potential of the region.
Go expressed enthusiasm for the potential of the new investment-focused law to encourage greater participation and investments from allied nations and the private sector.
The US delegation identified the CREATE MORE Act as a crucial tool for unlocking investment opportunities within the LEC framework.
