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...
State-run Social Housing Finance Corp. (SHFC) has granted a one-month moratorium on amortization payments for member-beneficiaries in communities affected by the magnitude 7.8 earthquake that recently struck Mindanao. In a statement on Wednesday, June 10, SHFC said the payment reprieve covers the...
The Philippines’ automotive market has received another vote of confidence from Japan, with the Japan Bank for International Cooperation (JBIC) backing a $573-million financing package to support the vehicle sales business of Mitsubishi Motors Finance Philippines Inc. (MMFP). In a statement...
The Department of Finance (DOF) has begun negotiations with Switzerland-based SICPA SA for a proposed ₱13.44-billion fuel marking program extension beyond the expiration of the current contract in mid-2026, ensuring the continuation of a key anti-smuggling initiative that has been in place since...
The Philippines and the World Bank have signed an $18.85-million grant agreement to strengthen the country’s defenses against future pandemics, while the Washington-based multilateral lender also commended the satisfactory implementation of an ongoing agriculture modernization project. Documents...
I am always flattered when I meet people well-established in their respective professions (those in their 40s to 60s) who tell me that they learned their basic economics from the textbooks I wrote in the 1970s and 1980s for both high school and college students, especially in private schools. The...
President Marcos’ chief economic manager said that streamlined taxes imposed by local government units (LGUs) on businesses enjoying tax perks encourage easier compliance and attract more investments to the Philippines. This comes on the heels of issuing the first joint memorandum circular (JMC)...
Large-scale metallic mining companies in the country have been granted up to two months after the close of each quarter to settle their royalty payments under the new fiscal framework, according to the Bureau of Internal Revenue (BIR). The Marcos administration is implementing the extension to...
International Finance Corp. (IFC) is collaborating with Thailand-based renewable energy (RE) developer Sermsang Power Corp. Public Co. Ltd. as the latter pursues its planned entry into the Philippines through a proposed RE generation project on Negros Island. In a disclosure over the weekend, the...
