The Philippine government has enacted a sweeping reform package aimed at improving the country’s business environment, backed by $1 billion in policy loans from the Asian Development Bank (ADB) and the World Bank (WB).
The initiative was formalized through a Joint Memorandum Circular (JMC), signed by 35 agencies on Monday. This move is a key part of the Department of Trade and Industry’s (DTI) strategy to attract more investments.
“This is a $1 billion document,” said Board of Investments managing director Ceferino Rodolfo.
“It represents a key deliverable under the ADB’s $400 million Business Environment Strengthening through Technology [BEST] loan and the World Bank’s $600 million Growth and Jobs Development Policy Loan [DPL]. These loans are paid for through reforms, by implementing policies that make doing business in the Philippines easier,” said Rodolfo.
The JMC aims to enhance coordination among agencies within the Investments Facilitation Network (INFA-Net). It also institutionalizes “Green Lanes,” mandated by Executive Order No. 18, which are dedicated to fast-tracking permits for strategic investments.
“This bold move reaffirms our unwavering commitment to make the Philippines a premier investment destination by cutting red tape and establishing efficient pathways,” stated Ernesto delos Reyes, director of the One-Stop Action Center for Strategic Investments (OSACSI).
Meanwhile, the DTI is considering recalibrating its investment targets for 2025 due to slower-than-expected performance by investment promotion agencies (IPAs).
DTI Secretary Ma. Cristina Roque announced she would meet with IPAs to reassess strategies and targets. This comes after a 48.5-percent drop in BOI-approved investments, falling to P329 billion from January to May 2025, compared to P640.22 billion in the same period last year.
“We are yet to meet regarding that, but we’re still really pushing, just like how we normally do,” Roque said on the sidelines of the JMC signing.
The Board of Investments (BOI) set a higher investment target of P1.75 trillion for 2025, up from P1.62 trillion recorded in 2024.
The BOI anticipates processing at least P1.12 trillion worth of investment projects over the next two quarters, reflecting the country’s continued appeal for smart and sustainable industries.
This total includes P290 billion from 65 projects already undergoing review and an additional P832 billion from three major projects in the pipeline, currently securing necessary registration documents.
