DTI Entices French Companies with Trade and Investment Opportunities

According to the Department of Trade and Industry (DTI), Trade Secretary Ramon Lopez discussed promising ventures for French companies in the country on a virtual courtesy call with Michèle Boccoz, the newly appointed French Ambassador to the Philippines.

Several key sectors for possible trade and investment opportunities were indicated including aerospace, electronics, clean energy, and healthcare. The 9th Philippines-France Joint Economic Commission is set to be held later in the quarter, which could be an avenue for further discussion regarding the cooperation between the two countries, said the DTI.

The DTI also continues to show the Philippines as an excellent environment for trade and investments despite the persistence of the global pandemic, said Lopez in the virtual meeting.

Concurrently, Boccoz considered that the recent signing into law of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act would help the country become more appealing to French firms.

CREATE is aimed to reduce the corporate income tax (CIT) rate from the current 30% to 25% for large companies and 20% for small and medium enterprises.

Source: Philstar