Recently, Panasonic Manufacturing Philippines Corporation has registered a 3-billion-peso project with the Philippine Economic Zone Authority (PEZA) to advance its business expansion in the Philippine market.
According to the expansion plan, Panasonic is expected to commence the construction of a new factory at Laguna Technopark between 2026 and 2027, primarily producing electric fans, refrigerators, and washing machines. PEZA stated that Panasonic has been operating as an export enterprise in the Philippines since 2003. In the Philippine market, Panasonic ranks first in market share for refrigerators and washing machines and second in the air conditioning market. Additionally, Panasonic indicated in a regulatory filing submitted on November 28 that it has obtained PEZA registration, making it eligible for fiscal and non-fiscal incentives under the **Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act (CREATEMORE)**. These incentives include a five-year income tax holiday, a ten-year enhanced tax deduction, and a fifteen-year exemption from import duties on capital equipment, raw materials, and spare parts.
