It did not sit idly by and wait for the coronavirus to subside; instead, it continued to pursue game-changing reforms which would make the Philippines a preferred investment destination. For instance, the Corporate Recovery and Tax Incentives for Enterprises or CREATE law slashes corporate income tax and rationalizes the fiscal incentives system.
In addition, three landmark laws were enacted to further open the Philippines to foreign investors. These include the amended Retail Trade Liberalization Act, the Foreign Investments Act, and Public Services Act. During the last six years, the government invested heavily in public infrastructure.