Fiscal incentives for leather sector backed

The Philippine shoe, leather and tannery industries will soon get a much-needed boost once a bill that will give fiscal incentives to these sectors is signed into law.

The House of Representatives submitted to Malacañang recently a new measure that would give the three industries a 10-year duty exemption on imported equipment and chemicals needed by these industries.

Jose Paulo N. Legaspi, president of iGen Portal International Corp. (IPIC), said he is confident President Arroyo will recognize the crucial opportunity to help these industries, knowing her desire to help Filipino firms to become more able world competitors in the face of the globalization trend.

"When enacted into law, the bill would surely help the shoe and leather sectors get back on their feet and face up to the challenge posed by imported products that are now flooding the market," Legaspi explained.

Legaspi noted the president, being an economist, has a heart for Philippine industries and will surely sign the new bill soon to give them a fresh start.

IPIC is a fusion of the iGenesys Group, Portal Innovations Corp., Lords will Partners and Manels Leathergoods Corp.

Manels was awarded the 2001 Outstanding Filipino Retailer by the Philippine Retailers Association and the Department of Trade and Industry. Among the Manels products being distributed by IPIC here and abroad are Kilaloe by Maphisto, Blue Earth jeans and Manels Redwood. Also available at the company are Barbizon and Sportshouse.

The company is seen as a potential key player in creating a major niche in the world market for world-class Philippine made shoes and leather products and help the government in its drive to generate more jobs for Filipinos.

Like the government, Legaspi said IPIC is committed to provide the needed push to revitalize and propel the Philippine shoe and leather industries to greater glory.