Philippines told to turn reforms into investment results

Foreign business groups have urged the Philippines to accelerate the implementation of economic reforms, improve infrastructure and attract investments in emerging industries, saying policy commitments must translate into measurable results for businesses and the broader economy.

The call took center stage at the 15th Arangkada Philippines Forum in Pasay City. Organized under the theme “FAST: Forging Ahead a Sustainable Tomorrow,” the gathering brought together government officials, business leaders, foreign chambers and international institutions to discuss priorities ranging from digitalization and manufacturing to food security and the creative economy.

Ebb Hinchliffe, executive director of the American Chamber of Commerce of the Philippines, emphasized the need for faster execution of reforms to strengthen the country’s investment climate.

“We need to be fast enough to compete, fast enough to innovate, and of course fast enough to deliver results and not just rhetoric,” Hinchliffe said.

In a video message, President Ferdinand Marcos Jr. likewise underscored the role of investments and stronger industries in creating opportunities for Filipinos.

“Every investment we attract, every enterprise that we help, and every industry that we strengthen can open new opportunities for our people,” Marcos said.

On energy, Energy Secretary Sharon Garin announced plans to auction another 25 gigawatts of renewable energy capacity over the next 12 months, with delivery targeted from 2027 to 2035. The planned auctions would build on about 20 GW already awarded under the government’s Green Energy Auction Program.

The government is also preparing auctions for offshore wind, floating solar, agrisolar and waste-to-energy projects to broaden clean energy investment and strengthen power security.

Digital infrastructure and workforce access were also major concerns. Then Information and Communications Technology Secretary Henry Aguda said the country’s digital economy reached P2.74 trillion in 2025, equivalent to nearly 10% of gross domestic product, and supported more than 10 million jobs.

Aguda said the government aims to raise the digital economy’s contribution to 12% of GDP and extend broadband access to an additional 20 million Filipinos by 2028. He noted, however, that only half of Filipino households had internet access at home in 2024.

Other discussions covered investment-related legislation, infrastructure development, disaster prevention and health and wellness tourism.

Tourism Secretary Dita Angara-Mathay cited the country’s potential to attract more wellness-related spending, noting that the Philippine wellness economy reached $47.3 billion in 2024, according to Global Wellness Institute figures.