American businesses operating in the Philippines are pushing the government to implement key reforms to strengthen the overall business climate and encourage more investment in the country.

In a position paper presented to government officials last week, the US-ASEAN Business Council (USABC) said the Philippines has an opportunity to build on the momentum of recent reforms to strengthen its competitiveness and investment potential.

“Realizing this opportunity will depend on effective implementation, sustained public-private collaboration, and a shared commitment to translating reforms into measurable outcomes,” it said.

USABC, the leading advocacy group for United States (US) companies operating within the Association of Southeast Asian Nations (ASEAN), said the Philippines has enacted a number of landmark reforms over the years that have the potential to improve its investment climate.

To take advantage of this, the group said the priority now should be the timely and consistent implementation of these policies across all levels of government.

“This includes the timely issuance of implementing guidelines formulated with industry input, harmonization of regulatory practices across agencies and local governments, reduction of unnecessary compliance requirements, and the accelerated digitalization of government services,” it said.

The reforms cited by USABC include the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE), the New Government Procurement Act (NGPA), the Ease of Doing Business (EODB) Act, and the Konektadong Pinoy Act (KPA).

It also identified education and workforce reforms, including the Enterprise-Based Education and Training (EBET) Framework Act and Academic Recovery and Accessible Learning (ARAL) Program.

USABC also wants the government to capitalize on growth opportunities such as the Luzon Economic Corridor (LEC) to attract investments and position the country as a regional hub for technology, innovation, and advanced manufacturing.

It noted that projects like LEC should be supported by clear governance and accountability structures, defined implementation roadmaps, industry engagement mechanisms, and measurable targets.

“Progress should be tracked against shared outcome indicators such as investment flows, job creation, infrastructure deployment, supply-chain participation, and logistics performance, including on-time delivery rates, port dwell times, customs clearance times, and end-to-end transit-time reliability,” USABC said.

LEC is an initiative led by the Philippines, the US, and Japan that aims to enhance infrastructure connectivity, promote sustainable industrial development, and drive inclusive growth across the ports of Subic, Clark, Manila, and Batangas.

To strengthen the country’s standing against neighboring countries in the region, USABC said the private sector also needs greater visibility on the government’s pipeline of priority projects, investment opportunities, and policy initiatives.

“Early and structured engagement would allow companies to better assess opportunities and build the internal business case for allocating regional investment, production, and supply-chain activities to the Philippines,” the group said.

“Government could also provide greater clarity on the range of incentives and investment support that may be available under CREATE MORE, including potential Presidential incentives for strategic investments, subject to applicable requirements,” it added.

To this end, USABC said a more transparent dialogue on the government’s priorities would help American companies operating in the country advocate for more investments and allow for stronger alignment with the private sector.

It noted that there should be regular channels of dialogue between the government and the private sector to ensure that policies are responsive to economic realities and implementation challenges.

The group is pushing for regular mechanisms for consultation, particularly on emerging issues such as healthcare, artificial intelligence, infrastructure, logistics, energy transition, and workforce development.

“Continued engagement can help resolve issues in a timely manner, identify bottlenecks early, improve regulatory design, and strengthen coordination across agencies and levels of government,” it said.

In a separate Aug. 21 statement, USABC said a delegation of more than 35 companies participated in the group’s recent business mission in Manila from Aug. 18 to 20, which was also attended by more than 150 government officials, business executives, and members of the diplomatic community.