Senator Imee Marcos said passing a bill that will reduce corporate income tax by 5% will entice foreign investors to come to the country.
The Ilocos Norte politiko said the government must make sure companies leaving China will consider relocating in the Philippines.
But Marcos said this will only happen if the country beefs up its incentives for investors.
“We must get some investment from that precious China fall-out, as well as the anticipated new outsourcing from a depressed world economy,” she said.
“Also, we need to stem the fiscal mistakes causing our few loyal foreign investors to leave the Philippines,” Marcos added.