With the ongoing onslaught of the COVID-19 pandemic worldwide and international companies shifting supply chains to cheaper job markets, Senator Christopher Lawrence “Bong” Go urged the government to attract even more foreign businesses to invest in the country, particularly in less developed regions.
Go said that the move will support the long-term plan for the implementation of a “Balik Probinsya” program after the country overcomes the COVID-19 crisis.
“Dahil po sa problemang dulot ng COVID-19 sa iba’t ibang bansa sa mundo, marami pong mga negosyo ang nagnanais pumunta sa mga bansang may mas murang production costs at skilled workforce,” Go said.
“Oportunidad rin ito para sa Pilipinas upang mahikayat ang mga negosyo na dito na lamang mamuhunan sa ating mga probinsya sa Pilipinas. Magiging daan din po ito upang makapaghanda tayo sa implementasyon ng ‘Balik Probinsiya’ program at mapalakas ang regional development,” he added.
Go said that companies which will invest in the provinces can create jobs for Filipinos in the countryside, diminishing their need to go to Metro Manila to seek better job opportunities.
“Bukod sa gusto nating umuwi sa probinsya ang mga Pilipino mula sa mga siyudad, tulad ng Metro Manila, isa sa mga layunin ng proposed na ‘Balik Probinsya’ program ang pagsigurong handa at kaaya-aya ang mga probinsya para sa mga bagong negosyong ipapatayo ng mga mamumuhunan,” Go said.
“Para maabot natin ang hinahangad na kaunlaran, dapat nating simulan na ang pagpaplano ng national at local government units na gumawa na ng trade and industry roadmap at konkretong polisiya para tiyak na makukuha nating mag-invest ang mga negosyo sa probinsya,” the Senator added.
Go believes that there is a need to improve the present tax and incentives system in the country in order to balance tax collection and incentives for urban and rural areas, eventually benefitting communities in the countries because of fresh investments coming in.
Acting National Economic and Development Authority Director-General and Socioeconomic Planning Secretary Karl Kendrick Chua says that the grant of tax incentives can be more targeted to the provinces since the present system grants the same incentives regardless of the location of a business in the country. And by giving more incentives for new business in the countryside, Chua believes that investors can invest outside of Metro Manila and other metropolitan areas.
Department of Finance Secretary Carlos Dominguez III and Chua believe that passage of Senate Bill 1357 or the Corporate Income Tax and Incentives Rationalization Act (CITIRA) will reinforce the “Balik Probinsya” program where more incentives will be given to business in the provinces.
The bill is primarily authored by Senator Pia Cayetano and was certified as urgent by President Rodrigo Duterte last March.
“We need to scale up our policies to the standard that it will also be fair for both investors and the community. I ask the concerned government agencies, such as DSWD, DTI, DOLE and TESDA to map out the skills of proposed BPP beneficiaries in order to match them with possible investors,” Go highlighted.
Meanwhile, on Monday, May 4, the Senate adopted a resolution filed by Go urging the executive department to formulate and implement his proposed “Balik Probinsya” program.
The proposal also aims to better prepare the country in responding to future pandemics and other crises similar to what is being experienced at the present due to the COVID-19 health emergency.
“This plan aims to decongest urban areas as congestion proves to be a significant factor in the high number of COVID-19 cases. It also aims to boost rural development and create livelihood opportunities in the countryside to encourage city dwellers and businesses to move to the provinces,” Go explained.
“As the President mentioned in his past statements, starting fresh in the provinces would give Filipinos HOPE for a better future after COVID-19 crisis,” he ended.
