Home / Knowledge / News / Apparel/Garments / Philippines' BOI okays tax benefits to two garment units
Philippines' BOI okays tax benefits to two garment units
25
Jul '13
The Board of Investments (BOI), Government of Philippines, has approved the grant of tax benefits to two garment units, in order to revive the country’s garment sector exports.
 
The BOI has approved the P9.64 million project of H&S Inc for expansion of its existing production factory at Binangonan in Rizal province. The project is for adding capacity of 150,000 dozens of apparels annually, to the existing capacity to produce 31,200 dozens of garments per year.
 
The commercial operation of H&S’s expanded facility began last month, providing employment to 200 people. All the clothing produced at the extended facility would be exported to the US and the South American countries, BOI said.
 
BOI has also approved P4 million investment of I2 Industries Manufacturing Inc. for setting up a garment manufacturing unit in San Ildefonso, in Bulacan province, where commercial operation is expected to start in August 2013.
 
The new facility will employ 85 people and would have capacity to produce 25,000 dozens of kidswear, meant for export to the US and Australia.
 
Both the garment projects would be given tax incentives as they fall under the Export Activities component of the Investments Priorities Plan that identifies priority sectors for increasing investment inflows and generating more jobs, the BOI said.
 
Last year, Philippines’ garment exports declined by 17 percent year-on-year to US$ 1.57 billion, according to the National Statistics Office. 
 
From January to April 2013, for which figures are available, Philippines’ exported apparel worth US$ 546.90 million, down 12 percent compared to US$ 621.70 million exports made during the corresponding period of last year.
 

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 23rd Aug 2017

BRC welcomes clarity on goods flow during Brexit

British Retail Consortium (BRC) has welcomed the greater clarity that ...

Textiles | On 23rd Aug 2017

Picanol records 11% rise in 2017 first half turnover

The Picanol Group, which specialises in the development, production...

Textiles | On 23rd Aug 2017

Kraig delivers first dragon silk fibre to medical firm

Kraig Biocraft Laboratories, Inc. a leading developer of genetically...

Interviews View All

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search