The Philippine Stock Exchange (PSE) is ramping up efforts to attract more retail investors to the local stock market as it faces the challenge of competing with the growing popularity of online gambling and non-essential spending.
PSE president Ramon S. Monzon, speaking at a recent bell-ringing ceremony, emphasized that the recent reduction in stock transaction tax under the Capital Markets Efficiency Promotion Act (CMEPA) is not a “silver bullet” for improving market liquidity. “We must complement this STT reduction with continuing initiatives to grow the number of listed firms and expand our product and service offerings,” he said.
Monzon stressed the need to shift public behavior toward investment, especially among Filipinos drawn to online gambling. “We must continue to find more ways to get people to invest in the stock market instead of spending for non-essentials or throwing their hard-earned money on online gambling,” he added.
To address this, the PSE is partnering with key institutions to expand financial literacy. It recently signed memoranda of understanding with the Department of Migrant Workers and the Commission on Filipinos Overseas to promote stock market education through the PSE Academy platform and safeguard investors from scams.
Recognizing the long-term importance of financial habits, Monzon also highlighted plans to integrate investment education into school curricula in collaboration with the Department of Education and the Commission on Higher Education. “Nothing beats providing financial education to students while they are still young,” he said, calling for a cultural shift from gambling and spending to saving and investing.
The PSE reiterated its commitment to working with the Securities and Exchange Commission and other stakeholders to implement reforms that enhance the competitiveness and inclusiveness of the Philippine capital market.
