Key reforms in trade facilitation, transportation and other sectors are in place to support sustained economic growth, Department of Finance Secretary Frederick Go said Friday.
Speaking on the sidelines of the Economic Managers Forum, Go said some of the measures are the signing of the single window integrated trade facilitation platform or the National Single Window (NSW); and ensuring budget for the Comprehensive Automotive Resurgence Strategy (CARS) program amidst the veto for the allocation under this year’s national budget.
Go said the NSW will consolidate trade requirements into a single digital portal, reducing red tape, delays and costs.
“It’s proven by global studies that a country with a national single window will really enhance trade and tax collection,” Go said.
On the CARS program, Go said the Department of Budget and Management will soon release details of the new approved funding.
“Car manufacturers enrolled in the program can now be assured that government will fulfill its commitment to investors,” he said.
President Ferdinand R. Marcos Jr. vetoed several items in the proposed 2026 budget, including the PHP4.32-billion allocation for the CARS program to curb unprogrammed appropriations.
The CARS program provides fixed investment support and production volume incentives to automotive firms. As of 2025, the government has released PHP1.44 billion of the program’s PHP5.43-billion total budget.
Go also welcomed the government’s decision to grant Chinese business owners and tourists a 14-day visa-free entry through the Manila and Cebu airports, saying it would “boost tourism, trade and investments and further improve relationships with our largest trading partner.”
He said these reforms, aimed at easing the cost of doing business and improving infrastructure, were presented to private sector stakeholders to boost investor confidence and encourage greater investment.
“This s a clear signal that the Philippines is moving forward decisively and not being distracted,” the Finance chief said.
“Despite the challenges of the past year, our long-term fundamentals remain strong and intact. Our stable macroeconomic environment, enabling policies and dynamic workforce provide a solid foundation for sustainable growth. With this, we are now advancing with big bold reforms,” he said. (PNA)
