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.
Closer trade ties are being pursued as both countries explore how a preferential agreement could create more opportunities across their growing economies.
Canada is becoming another destination for Philippine tropical fruits as government efforts focus on widening agricultural exports and finding new overseas buyers.
The Philippines is strengthening economic engagement with Australia and New Zealand through ASEAN as global markets become more complex and interconnected.
The updated partnership gives ASEAN and the UK a broader framework for navigating global uncertainties while strengthening trade and investment opportunities.