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Legarda wants tax breaks for investment in the salt business.

Senate President Pro Tempore Loren Legarda is advocating for the adoption of a bill that aims to offer enticing benefits to industry investors in order to revive the nation’s salt sector and lessen our reliance on importation.

Legarda stated that the country’s salt industry has the potential to be a significant driver of economic growth and income-generating opportunities for the Filipino people in a press release on Thursday, in support of Senate Bill No. 1870, also known as an Act Strengthening and Revitalizing the Development of the Salt Industry in the Philippines.

She stated that the salt business offers limitless potential for the Philippines’ overall economic performance, but pointed out that during the past few years, the nation has been importing about 550,000 metric tons of salt or 93 percent of the country’s salt needs.

Due to the fast-expanding population, the Philippine Association of Salt Industry Networks (PhilAsin) anticipates an increase in these figures in the upcoming years.

Legarda asserted that government assistance is crucial in addressing these issues in order to increase the competitiveness of the salt business, lessen reliance on imports, and provide salt producers with more favorable employment opportunities.

The proponent of sustainable livelihood programs stressed the importance of offering investors sizeable and alluring incentives in order to increase local production.

The congressman also stated that attention should be given to salt farmers by providing them with financial and technical support that can support sustainable salt production.

She stated this might be achieved through tools, fresh technologies, and thorough research and development studies to better understand and meet the industry’s shifting needs.

The development and implementation of the Philippine Salt Industry Development Roadmap should be steered by a variety of collaborations between government agencies and stakeholders, as well as further improved policies.

“As legislators, it is up to us to decide how the salt business will develop. This should be seen as a common goal and a promise from all of us to work nonstop to preserve what’s left of the sector. The potential for equitable growth in this sector will benefit us all, according to Legarda.

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