The European Chamber of Commerce of the Philippines (ECCP) warmly welcomes the signing into law of Republic Act (RA) No. 12253 or the “Enhanced Fiscal Regime for the Mining Industry Act.”
This landmark legislation is a testament to the government’s unwavering commitment to promoting a more predictable, equitable, and transparent fiscal environment for the large-scale metallic mining sector.
We believe that the passage of this law is a critical step, as a stable and clear regulatory framework is the key pillar for attracting and retaining foreign direct investment. The chamber believes that this law will not only create a more predictable and equitable business and investment climate, but also provide the necessary certainty for businesses to plan and commit to long-term projects with a simplified and more rational tax system. This legislation is set to foster sustainable economic growth and job creation across the country.
The ECCP is confident that his new fiscal regime will unlock the full potential of the country’s mineral resources, underscoring industry competitiveness, while ensuring responsible, transparent, and sustainable environmental and resource management for the benefit of all Filipinos.
Serving the European-Philippine business community since 1978, the ECCP remains committed to enabling cross-sector collaboration, promoting economic growth, and championing a sustainable future. For inquiries or further information, you may contact us directly or connect with us through our official social media channels.