Ilang senador, tiwalang magbubunga ng mas maraming trabaho at investments ang pagpapatibay ng CREATE More Act

PTVPhilippines

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00:00Some lawmakers believe that President Ferdinand R. Marcos Jr.'s insistence on the CREATE MORE Act,

00:10which will not only affect the country's economy,

00:13but will also provide new opportunities for Filipinos.

00:17Daniel Manalastas was at the center of the news.

00:22More jobs and more investors.

00:26This is what some senators believe will be the fruit of the CREATE MORE Act.

00:31President Ferdinand R. Marcos Jr. approved the law.

00:35Senate President Francis Escudero said,

00:38CREATE MORE is the aim of investors who live in the Philippines.

00:43Under the new law,

00:45it will facilitate the system of value-added tax provisions in the law,

00:50particularly the process of VAT refund claims.

00:53Escudero said,

00:54this is part of his promise to the Senate to facilitate the lives of Filipinos.

00:58According to Senator Sherwin Gatchalian,

01:00through CREATE MORE,

01:02projects and activities that have a great impact on the country,

01:06such as food security and others, will be supported.

01:10And if foreign direct investments are increased,

01:13which is expected to be the fruit of CREATE MORE,

01:15many Filipinos will have better opportunities and our economy will improve.

01:21Senator Juan Miguel Zubiri believes

01:24that the CREATE MORE Act will cut the red tape in the investment sector.

01:28The senator explained,

01:30they want to facilitate the process of VAT refunds.

01:33Because if current investors will lose billions in the Philippines,

01:37it is only natural for them to leave.

01:39CREATE MORE will solve these problems.

01:42Meanwhile, Gatchalian wants to limit the capital market of the Philippines to other countries in Asia.

01:48The senator approved the so-called Capital Markets Efficiency Promotion Act.

01:52The senator said,

01:53it is more expensive to live in the Philippines if compared to our neighboring countries.

01:58The senator hopes that if the so-called law is passed,

02:01it will pave the way for our country to catch up

02:04and attract more Filipinos to live in our capital markets.

02:09Daniel Manalastas for Pambansan TV in Bagong, Philippines.

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