Our keen preoccupation with making ourselves understood by words and deeds has established a new climate of mutual understanding with academics, investors, market participants and public opinion at large. We have stepped up the number of gatherings in which we document our strategies and carefully explain our actions to broad audiences.
For instance, it pursued the passage of the Corporate Recovery and Tax Incentives for Enterprises or CREATE law, which cut corporate income tax and rationalizes the fiscal incentives system. In addition, three landmark laws further open the Philippines to foreign investors. These include the amended Retail Trade Liberalization Act, the Foreign Investments Act, and Public Services Act—all of which bode well for job creation.