In line with the National Government’s fiscal initiative given to new investors, SBMA Chairman and Administrator Jonathan D. Tan caused the unanimous approval of the Fiscal Incentives Review Board (FIRB) on Nidec’s Php 4.2B new project at Subic Bay Freeport.

In a meeting with FIRB and member-agencies on Friday, Nidec was granted the approval under CREATE incentives, which include tax holiday, special corporate income tax, duty exemption, VAT exemption on importation, and VAT zero rate on local purchase.

Nidec Subic Philippines is involved in the development, manufacturing, and sales of small precision motors, automotive motors, home appliance motors, commercial and industrial motors, motors for machinery, electronic and optical components, and other related products.