The Philippines has secured a government-to-government financial and development cooperation agreement with Sweden, aimed at enhancing economic security and investment in key projects. The DOF announcement follows the signing on Nov. 22, 2024, involving Finance Secretary Ralph G. Recto and...
The Philippines will repay to the Asian Development Bank (ADB) the initial loan it secured for the Laguna Lakeshore Road Network (LLRN) until 2052, or 24 years after the project is expected to be passable. Documents showed that Finance Secretary Ralph G. Recto, on behalf of the Philippine...
The Philippines and the World Bank have agreed on the terms of the 466.07-million euro (equivalent to $500 million or over P29 billion) loan to ensure the safety and resiliency of schools in the country from natural disasters. Official documents disclosed on Nov. 19 showed that Finance Secretary...
Department of Finance (DOF) Secretary Ralph G. Recto announced that the double tax agreement (DTA) between the Philippines and Cambodia is expected to be finalized in February of next year. In a statemen, Recto noted that while the Philippines and Cambodia are preparing to sign the agreement,...
Local businesses can now adopt work-from-home setups without losing valuable tax incentives as the newly enacted Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act officially permits flexible work arrangements. The...
The Marcos administration is actively courting British investors, encouraging them to choose the Philippines as the location for their business expansion, the Department of Finance (DOF). Among the prominent British companies that the delegation engaged with were Actis, BP Plc, Global...
By DERCO ROSAL Department of Finance (DOF) Secretary Ralph G. Recto has secured the support of London executive Alderman Michael Mainelli to boost the Philippines’ ambitions in artificial intelligence (AI) and climate finance. On the sidelines of the Philippine Economic Briefing in London, Oct....
By DERCO ROSAL Finance Secretary Ralph G. Recto said that the Department of Finance (DOF) will abide by the Supreme Court’s (SC) temporary restraining order (TRO) that halts the utilization of Philippine Health Insurance Corp.’s (PhilHealth) idle, unused, and excess funds. On Tuesday, Oct. 29,...
By DERCO ROSAL The Philippines is poised for potential credit rating upgrade given the country’s resilient economy and positive growth outlook, global banking giant Citi executives stated. “Citi executives expressed confidence that the country is well-positioned for a credit...
The Department of Finance (DOF) said that the US Department of the Treasury has vowed to support the country’s efforts to strengthen its tax and customs administration system. The DOF said the commitment was made by US Treasury Undersecretary Jay C. Shambaugh and other senior officials during a...
The Department of Finance (DOF) has assured the public that the national government is fully prepared financially to support relief and rehabilitation efforts in areas impacted by the devastation of Typhoon Kristine. Finance Secretary Ralph G. Recto said the government has adequate funds available...
By DERCO ROSAL Amid concerns about a potential Donald Trump victory and its impact on global trade, President Marcos’ chief economic manager expressed optimism about the Philippines' strong relationship with Washington and projected a surge in investment from US companies. In a briefing in...
