DEPARTMENT of Trade and Industry (DTI) Secretary Fred Pascual affirmed the agency’s strong efforts to create an enabling environment for investments during the inauguration of the Brother Industries Philippines Inc.’s third factory expansion on February 2, 2024.
“We are actively showcasing our skilled workforce, strategic location, and generous investment incentives to the world, tailoring opportunities to fit the needs of global investors such as Brother Industries Philippines Inc.,” said Pascual.
The DTI chief stressed that the government has implemented transformative initiatives to attract investments, such as the implementation of the Corporate Recovery and Tax Incentives for Enterprises (Create) Act. This law reduced corporate income tax rates, streamlined tax administration, and provided various investment incentives.
Pascual also highlighted the department’s digital efforts aligned with the Ease of Doing Business (EODB) Act.
He said the DTI has been continuously boosting its online services platforms, which makes it easier for businesses to start and operate in the Philippines.
With regard to the expansion of Brother Industries Philippines Inc., Pascual said that he recognizes the project as a positive development for the Philippine manufacturing sector.
From its current 9,000 Filipino employees, the company’s third factory is expected to create over 3,000 new jobs and boost the economy.
He expressed optimism for the company's future endeavors and reiterated the government's support for businesses that contribute to the country’s economic growth.
“The DTI fully supports businesses in their vision for continued growth and expansion. We are committed to providing a supportive and enabling environment for companies like Brother Industries Philippines Inc. to thrive,” said the DTI chief.
Brother Industries Philippines Inc. is a subsidiary of Brother Industries Ltd., a Japanese multinational corporation and a leading manufacturer of printers, sewing machines, and other office equipment.
Operating in the Philippines for 12 years, Brother Industries Philippines Inc. is one of the Philippine Economic Zone Authority’s locators and a major manufacturer of printers and other office equipment.
The company expansion is set to increase its production capacity to meet the growing demand for its products. (PR)