The Department of Finance (DOF) wants financial technology (Fintech) companies in the country to be properly regulated and taxed while encouraging the sector’s growth and continued innovation. In a statement, DOF Secretary Carlos G. Dominguez III said Tuesday, Nov. 16, that he has tasked the...
A new private sector-led global organization is exploring a possible country partnership with the Philippines to assist in hastening its transition to green and renewable energy (RE) sources, the Department of Finance (DOF) said. In a statement, the DOF said on Friday, Nov. 12, that Finance...
The Philippines has formally committed to reverse forest loss and land degradation by 2030, the Department of Finance (DOF) announced on Thursday, Nov. 11. In a statement, the DOF said the Department of Foreign Affairs (DFA) recently transmitted President Duterte’s letter to the government of the...
The Philippines has called for an end to the debate on climate change, and for nations to start implementing concrete actions to fulfill their respective commitments and “obligations to humanity” to save the planet from an environmental catastrophe. “The Philippines is determined to be a...
The next Department of Finance (DOF) head needs to keep a close eye on four pressing issues, such as public debt, inflation, exacerbated inequality and climate change, President Duterte’s chief economic manager said. Eight months before the term of the Duterte administration ends, Finance...
The Fiscal Incentives Review Board (FIRB) has approved the grant of tax incentives for the builder of the Makati City Subway, the Department of Finance (DOF) announced. In a statement released by the DOF on Monday, Nov. 8, it said that the FIRB took into consideration the projected increase in...
Finance Secretary Carlos G. Dominguez III said the support extended by multilateral institutions to the clean energy transition projects of developing economies is crucial to encourage the flow of private sector capital into these initiatives. Dominguez said the meticulous planning and vetting done...
Finance Secretary Carlos G. Dominguez III has underscored the importance of the “blended approach” or sustainable orchestration of grants, investments, and subsidies to make climate finance work for its beneficiaries. IMG_1313 During a ministerial dialogue on climate finance at COP26, Dominguez...
The Philippines and Indonesia have formed a new partnership establishing an Energy Transition Mechanism (ETM), the first of its kind in Asia and the Pacific, the Asian Development Bank (ADB) said. At the COP26 in Glasgow, ADB President Masatsugu Asakawa, Indonesian Finance Minister Sri Mulyani...
The Philippines incurred billions of pesos in losses due to climate-related hazards in over a decade despite contributing only a meager to global greenhouse gas emissions. The Department of Finance (DOF) revealed Tuesday, Nov. 2, 2021, that extreme weather driven by climate change cost the...
Economic recovery is “not a horse race” among Asian peers, the Department of Finance (DOF) clarified after a number of analysts anticipated that the Philippines may likely become the last country in region to regain its pre-pandemic growth level. “I don't watch the projections for the...
Finance Secretary Carlos G. Dominguez III will represent the Philippines at the global climate action talks and negotiations, also known as 26th Conference of Parties (COP26) of the United Nations Framework Convention on Climate Change, in Glasgow, Scotland next week. Delegates from almost 200...
