INVESTMENT TRIP President Duterte speaks prior to his departure for the Boao Forum in China in April to draw more investments to the Philippines.—MALACAÑANG PHOTO
Despite the objections of the Department of Finance, Malacañang issued an executive order extending the 31-year-old investment incentive allowing the duty-free importation of capital equipment, machine parts and accessories by qualified companies.
Malacañang on Friday released Executive Order No. 57, signed by acting Executive Secretary Michael Ong on June 22, which extended for one year the incentive for companies registered with the Board of Investments (BOI).
The measure, which will take effect after publication in a newspaper of general circulation, was aimed at enhancing competitiveness in line with the Philippine Development Plan 2017 to 2022.

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