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DOF thanks Japan for quick loan release

Published January 8, 2021, 5:00 AM
The Department of Finance (DOF) thanked Japan for quickly disbursing another disaster response loan that aims to support ongoing government efforts to rehabilitate areas and help families affected by the series of powerful typhoons in the final months of last year.
Finance Secretary Carlos G. Dominguez III said the newly released 10-billion yen under the second phase of Japan’s Post Disaster Standby Loan 2 (PDSL 2) program will help cover the funding needed to help families get back on their feet and rebuild communities.
Finance Secretary Carlos G. Dominguez III
Last January 5, the Japan International Cooperation Agency (JICA) disbursed the second tranche of the PDSL2, bringing its total assistance to the Philippines under the program to 20 billion yen, or roughly P9.33 billion. ....

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New envoy says Japanese firms in Philippines eyeing expansion opportunities

SunStar
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December 29, 2020
THE Philippines and Japan have reaffirmed their commitment to further build on their strong economic partnership, which includes plans to expand Japanese investments in the country following favorable developments on a Philippine tax reform measure that aims to significantly lower the corporate income tax (CIT) rate.
Newly designated Japan Ambassador to the Philippines Koshikawa Kazuhiko said during a recent courtesy call on Finance Secretary Carlos Dominguez III that Japanese companies are exploring ways of realigning their supply chains to other countries like the Philippines.
Koshikawa said the approval by the Senate of the Corporate Recovery and Tax Incentives for Enterprises (Create) bill, earlier passed by the House of Representatives, was welcomed by Japanese investors doing business in the Philippines. ....

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