The Joint Foreign Chambers of the Philippines (JFC) urged the Marcos administration to shift its focus from reform commitments to implementation, saying sustained execution of key economic policies is essential to strengthen investor confidence and keep the country competitive.

In a statement following President Ferdinand R. Marcos Jr.‘s fifth State of the Nation Address, the JFC welcomed the administration’s continued push for reforms but said the government must accelerate the remaining legislative and policy measures needed to improve productivity, innovation and long-term economic growth.

The business coalition said it supports the administration’s priorities on transparency and accountability, energy security, renewable energy expansion, healthcare, infrastructure and mass transportation, describing them as vital to building a more resilient and competitive economy.

To sustain reform momentum, the JFC reiterated its 12-point legislative and policy agenda, which includes measures to streamline regulations, facilitate trade, improve tax and investment predictability, generate jobs and make doing business in the Philippines easier.

The group also urged the government to focus on the effective implementation of existing tax and revenue measures while carefully evaluating any new fiscal proposals to ensure they do not undermine the country’s competitiveness.

“A stable, predictable, and competitive fiscal environment is essential to sustaining investor confidence, encouraging business expansion, and supporting long-term economic growth,” the JFC said.

In the energy sector, the foreign business group renewed its support for amendments to the Electric Power Industry Reform Act, saying reforms are needed to ensure reliable, affordable and sustainable electricity supply.

The JFC also welcomed the government’s continued pursuit of free trade agreements and deeper regional economic integration, saying these initiatives would expand market access, attract quality investments and strengthen the Philippines’ position in regional and global value chains.

The group said it remains committed to working with the government and other stakeholders to translate policy commitments into concrete results through stronger public-private collaboration and consistent implementation.

The JFC is composed of the American, Canadian, European, Japanese and Korean chambers of commerce, together with the Philippine Association of Multinational Companies Regional Headquarters. Collectively, its more than 2,000 member companies account for over $100 billion in bilateral trade and about $30 billion in investments in the Philippines.