Manufacturing output grew faster in August as factories recorded improved production activity, according to data released by the Philippine Statistics Authority.
Loans to residents climbed 11.3 percent year-on-year as businesses continued borrowing for investment, operations, trade, utilities, and other productive activities.
The new center provides mentoring and training opportunities that can help local businesses improve operations, strengthen products, and become more competitive.
Merchandise and service exporters followed with USD2.85 billion in loans, while power generation companies accounted for another USD1.86 billion in borrowings.
Stronger investor confidence could follow faster reforms and improved competitiveness across key industries, helping support broader economic activity and long-term business expansion.
BIR Commissioner Charlito Mendoza said approved refunds should not face unnecessary delays once claims have been properly reviewed and cleared for release.