The Marcos Jr. administration has secured a landmark P50.7-billion investment from Samsung Electro-Mechanics Philippine Corporation (SEMPHIL), the first project to be granted Presidential Incentives under the newly enacted CREATE MORE Act (Republic Act No. 12066).

President Ferdinand R. Marcos Jr. announced the development following his meeting with top executives of Samsung Electro-Mechanics Co., Ltd. (SEMCO) on the sidelines of the 32nd APEC Summit in South Korea.

“Samsung is already in the Philippines. They have employed thousands of Filipinos in their very, very high-tech manufacturing plant,” Marcos told the Philippine media delegation.

“They [Samsung] made a commitment of a little over P50 billion to expand. That translates into 3,000 new jobs. And again, the transfer of technology is going to be very important,” he added.

The President said Samsung has also agreed to partner with several universities in the Philippines to train local workers and conduct research and development (R&D), part of the administration’s broader strategy to foster innovation and upskill the workforce.

The P50.7-billion SEMPHIL expansion will establish a state-of-the-art manufacturing facility for automotive multilayer ceramic capacitors (MLCCs), vital components used in electric vehicles (EVs) and smart devices.

Commercial operations are slated to begin by July 2027, generating more than 3,500 new jobs for Filipinos.

Located within the Calamba Premiere International Park (CPIP) and registered under the Philippine Economic Zone Authority (PEZA), SEMPHIL serves as SEMCO’s main global production hub in a cost-efficient region.

As of December 2024, SEMPHIL employs over 7,000 Filipino workers, accounting for nearly half of SEMCO’s worldwide MLCC output.

During the meeting in Busan, Marcos—joined by Special Assistant to the President for Investment and Economic Affairs Frederick D. Go and Department of Trade and Industry (DTI) Secretary Cristina A. Roque—also witnessed the signing of a Supplemental Agreement between PEZA and SEMPHIL.

Under the CREATE MORE Act, the President may grant tax incentives in the interest of national economic development, upon recommendation of the Fiscal Incentives Review Board (FIRB).

Qualified projects may receive a package of benefits, including Income Tax Holidays (ITH), Special Corporate Income Tax (SCIT) rates, Enhanced Tax Deductions, Value-Added Tax (VAT) zero-rating, and VAT and duty exemptions on importation.

Secretary Go described the Samsung investment as a “direct outcome of landmark policy reforms” under the Marcos administration.

“This development sends a strong message to the global business community: the Philippines is more than open and ready for business,” Go said. “We are competitive, capable of hosting world-class, high-technology industries, and committed to creating more quality jobs for Filipinos.”

Boosting the electronics sector

Meanwhile, PEZA Director General Tereso Panga hailed the announcement as a “landmark achievement for the country’s electronics sector.”

He noted that SEMPHIL’s expansion “will strengthen the Philippines’ position in the global semiconductor value chain and create more opportunities for Filipino talent.”

According to the Philippine Statistics Authority (PSA), electronic products accounted for nearly 60% of the country’s total exports in 2024.

The SEMPHIL project is expected to further increase the Philippines’ share in global MLCC exports, solidifying its role as a competitive partner in advanced electronics manufacturing.

The FIRB, chaired by the Department of Finance (DOF), also underscored that the CREATE MORE framework ensures that incentives are “targeted, transformative, and fiscally responsible.”

Marcos described the Samsung expansion as a powerful testament to his administration’s investment-led growth strategy, crediting the country’s improved investment climate, streamlined regulations, and proactive trade missions.