Proposed tax reforms are expected to cost the government roughly ₱66 billion in annual revenue as the Marcos administration trades fiscal collection for broader consumer and small-business relief, according to the Department of Finance (DOF). Finance Secretary Frederick D. Go said the package,...
State-run Maharlika Investment Corp. (MIC), manager of the Philippines’ first sovereign wealth fund, expects to become a regular member of the International Forum of Sovereign Wealth Funds (IFSWF), a global organization that promotes good governance, transparency, and accountability among SWFs....
HD Hyundai Heavy Industries Philippines Inc. launched its first locally constructed vessel from its Subic Bay shipyard, signaling the full-scale operational rollout of the South Korean conglomerate 's shipbuilding operations in the country. The vessel, named Orion Jade, is the first of four...
Returning exported goods originally bound for the Middle East may re-enter the country duty-free, as long as they have not been modified or improved through manufacturing or other processes while abroad, the Bureau of Customs (BOC) announced. “All district collectors are hereby directed to ensure...
The government is now ready to begin laying the groundwork for a program aimed at strengthening the export potential of small and medium-sized enterprises (SMEs) after securing more than $3 million, or roughly ₱185 million, in funding from international development banks. The Department of...
The government is offering expansive tax relief to large corporations and top exporters under new implementation guidelines designed to spur industrial investment and lower operational overheads. Under a Department of Finance (DOF) regulation signed by Finance Secretary Frederick D. Go, companies...
Another $1-billion loan has been added to the World Bank’s financing pipeline for the Philippines, aimed at strengthening government disaster preparedness and response amid increasing climate as well as natural hazard risks. The World Bank disclosed in a July 22 program information document...
To improve the quality, completeness, and timeliness of national economic data, the Bangko Sentral ng Pilipinas (BSP), the Securities and Exchange Commission (SEC), and the Philippine Statistics Authority (PSA) have entered into a data-sharing agreement. Spearheaded by Finance Secretary Frederick...
The World Bank has released an initial $248 million, or over ₱15 billion, from its $1-billion financing for the Philippines to jumpstart the government’s ambitious agriculture modernization program aimed at boosting food production, strengthening climate resilience, and modernizing food supply...
More idle government assets valued at roughly ₱30 billion are expected to be disposed of through privatization as the government successfully completed the ₱1-billion sale of one floor of Atrium of Makati, bringing first-half revenues close to the full-year figure for 2025. On Thursday, July...
The Philippine government, through the Department of Finance (DOF), has secured a $6.8-million, about ₱417-million, technical assistance grant from the Green Climate Fund (GCF), boosting the country’s capacity to access and implement climate investments. The approval of the Third Readiness and...
Local government units (LGUs) showed a significant jump in the number of loan requests in May 2026 compared to a year ago, with the total financing amount increasing to ₱4 billion as borrowing efforts—which were put on hold during the 2025 midterm election period—surged back. The latest...
