Finance Secretary Ralph Recto led the 25th meeting of the Fiscal Incentives Review Board (FIRB) on February 12, marking the board’s first evaluation of investment projects exceeding P50 billion.
Among the reviewed projects were the manufacturing of multi-layer ceramic capacitors for the automotive sector and the production and assembly of electric vehicles.
Recto highlighted that this milestone demonstrated growing investor confidence in the Philippines as a key investment destination.
The FIRB’s evaluation process is conducted by the Tax Code, allowing recommendations for presidential approval.
The meeting also coincided with the upcoming signing of the CREATE MORE Act’s implementing rules, aimed at improving the investment incentives framework and fostering job creation and innovation.
Source: PhilNews24 | February 16, 2025
RECTO HEADS HISTORIC P50 BILLION INVESTMENT REVIEW BY FIRB
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