As trade and investment between Italy and the Philippines continue to grow at record pace, a tax consultancy-led roadshow in Milan has positioned the Southeast Asian nation as a rising global investment gateway.
The Philippine Investment and Tax Briefing, held on May 20 at the Kalayaan Hall of the Philippine Consulate General in Milan, brought together Italian and Filipino business leaders, government officials, and tax experts for a deep dive into the country’s investor-friendly reforms and economic transformation.
The briefing, spearheaded by the Philippine Consulate General under Consul General Elmer Cato, featured the Asian Consulting Group (ACG), a leading tax advisory firm in the Philippines headed by tax expert Mon Abrea.
The event was held in partnership with the Italian Chamber of Commerce in the Philippines (ICCPI) and the Filipino Chamber of Commerce of Italy (FCCI).
The briefing came amid rising Italian business interest in the Philippines. In 2022, bilateral trade between the two countries surged to €1.24 billion, while key export and import volumes in 2024 continued to show significant momentum. Italian companies have also expressed interest in Philippine sectors such as energy, infrastructure, manufacturing, food and beverage, and aerospace.
Mon Abrea, Chief Tax Advisor of ACG and a driving force behind the international roadshow, highlighted the Philippines’ ongoing tax and investment reforms, including the recently enacted CREATE MORE Act.
“Change is not coming — it is happening,” Abrea said. “And we all need to do our part, including Filipinos abroad, by staying informed about developments back home and helping promote the Philippines to global investors.”
Abrea said the mission of ACG’s international roadshow is both promotional and transformative.
“As mentioned by Secretary Go, the CREATE MORE Act is proof of our commitment that the Philippines is open and ready for business. The mandate of the President is to roll out the red carpet for our foreign investors, not red tape,” he said, referring to Frederick Go, Special Assistant to the President for Investment and Economic Affairs and the
The CREATE MORE Act, or the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy, is a follow-up to the landmark CREATE Law in the Philippines. It refines and expands tax incentives and investment promotion measures to attract more foreign direct investment, streamline processes, and reinforce the country’s commitment to a competitive, transparent, and investor-friendly business climate.
ICCPI President Sergio Boero echoed this sentiment, noting the chamber’s active role in facilitating Italian-Philippine partnerships. He said collaboration with expert groups like ACG is essential in creating a business environment where Italian firms can succeed and grow, as clear and responsive tax policies are key to encouraging investment.
The Milan leg also marked the launch of Abrea’s newest book, Reimagining the World Without Climate Change, which underscores the importance of sustainable growth and climate-conscious investments.
Consul General Cato closed the event with a call for deeper Italian-Philippine economic collaboration, urging both investors and the Filipino diaspora in Italy—Europe’s largest—to take part in the country’s development story.
The event concluded with a dynamic networking session that allowed stakeholders to forge partnerships and explore opportunities firsthand.
Following Milan, the ACG International Tax and Investment Roadshow will proceed to Berlin and Madrid, signaling the Philippines’ strong push to attract European investors through transparency, efficiency, and reform-driven governance.
