There are a selection of fine enterprise and financial information lately. From The Philippine STAR, “Marcos backs ASEAN non-retaliatory stand on tariffs” (Might 27), “Funds surplus at P67 billion in April” (Might 28).
From BusinessWorld, “GOCC dividends seen topping 2024 collections” (Might 21), “Bataan-Cavite Interlink bridge building anticipated quickly” (Might 26), “PHL-Canada to conduct exploratory talks for a bilateral FTA in June” (Might 26), “Air passenger quantity up 10.9 p.c in 1st quarter” (Might 27), “PHL eyes extra investments from UAE sovereign wealth funds” (Might 28).
From these reviews and associated tales I put ahead these 10 proposals, some outdated and a few new. Secretary Frederick Go has additionally articulated a few of these proposals throughout his keynote speech on the BusinessWorld Financial Discussion board final week Might 22 held at Grand Hyatt BGC. I just like the opening remarks by Mr. Miguel Belmonte, president and CEO of The STAR and BusinessWorld the place he talked about that “the non-public sector drives momentum and serves as main engine of financial development, job creation and innovation within the nation.”
One, transfer towards extra free commerce settlement (FTA) or Complete Financial Partnership Settlement (CEPA) with extra international locations outdoors ASEAN. The Philippines-United Arab Emirates (UAE) CEPA is anticipated to be signed subsequent month. It will likely be the Philippines’ first FTA with a Center Japanese nation and member of the Gulf Cooperation Council (GCC). UAE has its personal sovereign wealth funds (SWF) and it is vitally wealthy, managing $2.39 trillion as of Might 2025.
Two, fiscal consolidation towards decrease price range deficit. April of every 12 months is fiscal surplus at all times because of revenue tax deadline, besides throughout 2020-2021 lockdown interval the place revenues have been down whereas expenditures have been excessive. April 2025 noticed an enormous price range surplus of P67.3 billion, second highest in historical past after April 2019 surplus of P86.9 billion, and April 2023 was third highest at P66.8 billion.
Three, management nationwide authorities (NG) subsidies as native governments share in taxes maintain rising, they will proceed the subsidies of their localities. Some subsidies and freebies made throughout lockdown 2020-2021 are nonetheless continued and it’s 2025 already. Allocation to LGUs of P48 billion in April 2019 has doubled to P93.1 billion in April 2025, and NG disbursements additionally doubled throughout that interval when it may have pulled again, the inhabitants didn’t double inside six years.
4, proceed elevating extra non-tax revenues like greater remittances by government-owned and managed firms (GOCCs) to the nationwide treasury. In 2024, the Division of Finance (DOF) below Secretary Ralph Recto collected P138.5 billion from GOCCs and in January-Might 2025 the DOF has already collected P76 billion. Implying that full 12 months 2025 remittances by GOCCs can be a lot greater than 2024 degree.
5, GOCCs that can’t give sufficiently big yearly, if not shedding, ought to be privatized. Privatization revenues in April 2019 was P2.3 billion whereas in April 2025 it was solely P0.16 billion.
Six, discover the chance to securitize the long run privatization of NAIA land itself at 646 hectares, Bilibid Jail land in Las Piñas with about 400+ hectares and Iwahig Colony in Palawan with about 14,000 hectares. These three massive authorities lands can fetch a minimum of P10 trillion worth some 10 years from now.
Seven, all revenues from privatization ought to be used totally to retire some maturing public debt and never earmarked to any company or any subsidy program. We must always deliver down our debt/GDP ratio to under 45 p.c by 2028.
Eight, the mining tax can significantly assist increase extra revenues particularly from gold-producing mining corporations. Current rise in gold costs is sort of hyperbolic, from $2,000/oz in January 2024 to present costs of $3,300/oz, and projected to additional rise to $4,000, even $5,000 within the subsequent two years.
9, infrastructure spending ought to go for connecting islands with bridges. The Cavite- Corregidor-Bataan Bridge spans 32 kilometers and building will begin subsequent month, then the Panay-Guimaras-Negros Bridge, additionally 32 kilometers and building to begin in July 2026. Then the Batangas-Mindoro bridge, Aklan-Boracay Bridge, and so forth.
The proposed Accelerated and Reformed Proper-of-Means (ARROW) invoice ought to turn out to be a regulation quickly to facilitate extra massive infrastructure tasks. There are 212 flagship tasks price P9.8 trillion.
Ten, amending the Buyers’ Lease Act, transfer from 25 years to 99 years lease, as a way to entice extra massive and long-term investments.
There are a selection of fine enterprise and financial information lately. From The Philippine STAR, “Marcos backs ASEAN non-retaliatory stand on tariffs” (Might 27), “Funds surplus at P67 billion in April” (Might 28).
From BusinessWorld, “GOCC dividends seen topping 2024 collections” (Might 21), “Bataan-Cavite Interlink bridge building anticipated quickly” (Might 26), “PHL-Canada to conduct exploratory talks for a bilateral FTA in June” (Might 26), “Air passenger quantity up 10.9 p.c in 1st quarter” (Might 27), “PHL eyes extra investments from UAE sovereign wealth funds” (Might 28).
From these reviews and associated tales I put ahead these 10 proposals, some outdated and a few new. Secretary Frederick Go has additionally articulated a few of these proposals throughout his keynote speech on the BusinessWorld Financial Discussion board final week Might 22 held at Grand Hyatt BGC. I just like the opening remarks by Mr. Miguel Belmonte, president and CEO of The STAR and BusinessWorld the place he talked about that “the non-public sector drives momentum and serves as main engine of financial development, job creation and innovation within the nation.”
One, transfer towards extra free commerce settlement (FTA) or Complete Financial Partnership Settlement (CEPA) with extra international locations outdoors ASEAN. The Philippines-United Arab Emirates (UAE) CEPA is anticipated to be signed subsequent month. It will likely be the Philippines’ first FTA with a Center Japanese nation and member of the Gulf Cooperation Council (GCC). UAE has its personal sovereign wealth funds (SWF) and it is vitally wealthy, managing $2.39 trillion as of Might 2025.
Two, fiscal consolidation towards decrease price range deficit. April of every 12 months is fiscal surplus at all times because of revenue tax deadline, besides throughout 2020-2021 lockdown interval the place revenues have been down whereas expenditures have been excessive. April 2025 noticed an enormous price range surplus of P67.3 billion, second highest in historical past after April 2019 surplus of P86.9 billion, and April 2023 was third highest at P66.8 billion.
Three, management nationwide authorities (NG) subsidies as native governments share in taxes maintain rising, they will proceed the subsidies of their localities. Some subsidies and freebies made throughout lockdown 2020-2021 are nonetheless continued and it’s 2025 already. Allocation to LGUs of P48 billion in April 2019 has doubled to P93.1 billion in April 2025, and NG disbursements additionally doubled throughout that interval when it may have pulled again, the inhabitants didn’t double inside six years.
4, proceed elevating extra non-tax revenues like greater remittances by government-owned and managed firms (GOCCs) to the nationwide treasury. In 2024, the Division of Finance (DOF) below Secretary Ralph Recto collected P138.5 billion from GOCCs and in January-Might 2025 the DOF has already collected P76 billion. Implying that full 12 months 2025 remittances by GOCCs can be a lot greater than 2024 degree.
5, GOCCs that can’t give sufficiently big yearly, if not shedding, ought to be privatized. Privatization revenues in April 2019 was P2.3 billion whereas in April 2025 it was solely P0.16 billion.
Six, discover the chance to securitize the long run privatization of NAIA land itself at 646 hectares, Bilibid Jail land in Las Piñas with about 400+ hectares and Iwahig Colony in Palawan with about 14,000 hectares. These three massive authorities lands can fetch a minimum of P10 trillion worth some 10 years from now.
Seven, all revenues from privatization ought to be used totally to retire some maturing public debt and never earmarked to any company or any subsidy program. We must always deliver down our debt/GDP ratio to under 45 p.c by 2028.
Eight, the mining tax can significantly assist increase extra revenues particularly from gold-producing mining corporations. Current rise in gold costs is sort of hyperbolic, from $2,000/oz in January 2024 to present costs of $3,300/oz, and projected to additional rise to $4,000, even $5,000 within the subsequent two years.
9, infrastructure spending ought to go for connecting islands with bridges. The Cavite- Corregidor-Bataan Bridge spans 32 kilometers and building will begin subsequent month, then the Panay-Guimaras-Negros Bridge, additionally 32 kilometers and building to begin in July 2026. Then the Batangas-Mindoro bridge, Aklan-Boracay Bridge, and so forth.
The proposed Accelerated and Reformed Proper-of-Means (ARROW) invoice ought to turn out to be a regulation quickly to facilitate extra massive infrastructure tasks. There are 212 flagship tasks price P9.8 trillion.
Ten, amending the Buyers’ Lease Act, transfer from 25 years to 99 years lease, as a way to entice extra massive and long-term investments.
One factor I discover with some DPWH tasks is that they destroy non-ugly roads and change with “new roads” on the identical spot, no lengthening or growth, nor widening of the street, then declare it as “new infra spending.”
Situations like that I want that DPWH might be abolished together with their regional workplaces, all massive infra tasks be finished through public-private partnerships (PPP) whereas all small and native infra tasks ought to be finished by LGUs, their price range be raised from financial savings of devolved DPWH price range.
Many different nationwide businesses might be abolished together with their regional workplaces, their capabilities be devolved to LGUs. This is not going to eradicate waste and corruption however this may assist management and reduce waste as some LGUs shall be severe in growing their localities as LGUs go into infra competitors, peace and order competitors, energy provide competitors with one another.
That is simpler mentioned than finished as this may require laws however the concept of incentivizing LGUs competitors and decreasing nationwide businesses inefficiencies ought to be explored. Then Funds Secretary Amenah Pangandaman and her successors can have much less headache pandering to varied businesses and legislators.