Japanese-Korean Investments For Aurora
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Written by Redpen
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Friday, 29 February 2008 |
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Coming after the holding of the first Aurora investments summit, started by Senator Edgardo Angara, Governor of Aurora Bellaflor Angara-Castillo and House Deputy Majority Leader Juan Edgardo Angara, in Clark Field, Pampanga, foreign investors showed determination to prepare projects in Aurora.The Japanese-Korean group of businessmen, watching closely P1.5 billion value of investments in Aurora, are entering into a joint business enterprise to build a facility and ice plant at the Mariculture Park in the town of Casiguran. With the putting in operation of the Aurora Special Economic Zone (ASEZ), the foreign businessman are not only watching closely the town of Casiguran but similarly the towns of Dipaculao and Dingalan and the capital town of Baler for investments in time to come. The trade and commerce in Aurora, which used to be classified as one of the 20 poorest provinces in the Philippines, are hoped to be made more active by the project. Tax incentives, stimuli that excite businessman to invest, are waiting for investors at the ASEZ. Income tax holidays, net operating loss carryover, a five percent tax rate on gross income, and accelerated depreciation are among the tax incentives. There are a dozen of incentives presented to investors for acceptance or rejection. We expect that these 12 incentives are more than enough to attract investors. It is an unfortunate destiny if these 12 incentives are less than enough. [Via ABS-CBN] |
