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ADMINISTRATIVE ORDERS
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ADMINISTRATIVE ORDER NO. 307 -
CREATING A TASK FORCE ON ADDITIONAL INCENTIVES PACKAGE TO INVESTORS
WHEREAS, international attention on Asia
Pacific Economic Cooperation (APEC) activities has stirred up business
interest and focus on the Philippine business environment;
WHEREAS, the Philippines has
inherent advantages of skilled, highly flexible, productive and
English-speaking labor force but pales in comparison to its neighbors
especially in terms of infrastructure support and up front incentives
in infrastructure, core industries and the service sector, including
financial institutions;
WHEREAS, a competitive set of
incentives to be given to large investment projects which are pioneer,
involve high technology, are high risk but strategic, and are geared
towards exports will result in a globally competitive Philippines;
WHEREAS, a review of existing
tax and non-tax incentives is necessary to take advantage of APEC's
success and help translate interest into concrete investments;
NOW, THEREFORE, I, FIDEL V.
RAMOS, President of the Republic of the Philippines, do hereby create a
Task Force on additional incentives package on investments, composed of
the Executive Secretary and the Department of Trade and Industry
Secretary as co-chair with representatives not lower than
Undersecretary level from the following agencies as members: Department
of Transportation and Communications, Department of Finance, National
Power Corporation, Metropolitan Waterworks and Sewerage System, Bureau
of Internal Revenue and Department of Labor and Employment.
The Task Force shall be
responsible for the following functions:
1.
a.
b.
c.
d.
e
f.
2.
a.
b.
c.
º
º
º
º
º
º
3.
The Department of Trade and
Industry shall provide secretariat support to the Task Force.
DONE in the
City of Manila, this 5th day of December in the year of Our Lord,
Nineteen Hundred and Ninety-Six.
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