The Marcos administration is seeking up to ₱91 billion ($1.5 billion) in fast-disbursing financial assistance from the Asian Development Bank (ADB) to bolster its response to an ongoing energy crisis, according to the Department of Finance (DOF). Finance Secretary Frederick D. Go told reporters...
With more than 60 agencies set to join the national single window through an integrated trade facilitation platform (NSW-ITFP), the Department of Finance (DOF) revealed that full implementation of the program is expected by 2028, coinciding with the end of the Marcos administration. “Full...
President Marcos’ chief economic manager has raised concerns over the country’s high digital transaction costs, pushing for reforms that would align fees across public and private payment channels and slash charges from their current levels. Speaking during a media roundtable, Finance Secretary...
Doctors and lawyers on Thursday, June 18, urged the Office of the Ombudsman (OMB) to review its resolution dismissing plunder, graft and administrative complaints lodged against Executive Secretary and former Department of Finance (DOF) Secretary Ralph Recto and then Philippine Health Insurance...
Apart from Japan, the Philippine government is currently in talks with Singapore and Hong Kong to update existing double taxation agreements (DTAs) in a bid to attract more foreign direct investments (FDIs). During a roundtable discussion on June 16, Department of Finance (DOF) Secretary Frederick...
SINGAPORE — The Department of Transportation (DOTr) is confident that more private-sector bidders will participate in the Philippines’ upcoming railway public-private partnership (PPP) projects as the government increasingly taps multilateral development banks (MDBs) to provide financing...
Maynilad Water Services Inc. has tapped International Finance Corp. (IFC) for a $500,000 infrastructure advisory services project aimed at strengthening the west zone concessionaire’s sustainability and resilience strategy. In a disclosure last Monday, June 15, IFC said the project was approved...
SINGAPORE — The Philippines is among the countries best positioned to help meet Asia’s rapidly growing electricity needs, with its rich geothermal resources as well as expanding wind and solar sectors offering significant potential for renewable energy (RE) development, according to...
The Department of Finance (DOF) is revamping how the country finances and manages climate and resilience initiatives through a comprehensive national framework aimed at reshaping its approach to environmental economics. This upcoming Philippine Climate Finance Strategy is set to “serve as a...
The Philippines is poised to benefit from the biggest investment ever approved by the United States International Development Finance Corp. (US DFC), as Washington moves to expand energy infrastructure across the Indo-Pacific region amid rising demand for liquefied natural gas (LNG). Documents seen...
With the aim of generating quality jobs for Filipinos, the Philippine government is exploring ways to deepen its bilateral cooperation with Sweden in the energy, manufacturing, and digitalization sectors. During a high-level courtesy meeting with a visiting Swedish delegation, Department of Finance...
Government preparations for the possible implementation of the proposed global top-up tax are ongoing, as large multinational enterprises (MNEs) have expressed a preference to settle the 15 percent global minimum tax in the Philippines rather than comply with “unfamiliar rules” abroad. Bureau...
