Economy

The administrative order of President Ferdinand R. Marcos Jr. to reopen Metro Manila to new Philippine Economic Zone Authority (PEZA)-registered IT parks and centers is expected to unlock about 1.2 million square meters of future office space, easing a growing shortage of PEZA-accredited facilities in the capital's key business districts.

The European Chamber of Commerce of the Philippines (ECCP) expects stronger trade and investment flows after the European Union and the Philippines formally elevated their relationship to an Enhanced Partnership, a move that adds momentum to ongoing negotiations for a bilateral free trade agreement.

Foreign business groups welcomed President Ferdinand R. Marcos Jr.'s fifth State of the Nation Address, saying it reflected many of the private sector's long-standing policy recommendations, while urging the government to shift its focus from announcing reforms to delivering measurable results.

Business leaders welcomed President Ferdinand R. Marcos Jr.'s renewed anti-corruption drive in his fifth State of the Nation Address, saying a stronger crackdown on graft could improve investor confidence, while urging the administration to match its message with reforms that make the Philippines more competitive.

President Ferdinand Marcos Jr. delivered one of the strongest foreign policy messages of his administration on Monday, declaring that the Philippines "will not yield" in defending its sovereignty and reaffirming the country's commitment to the landmark 2016 Arbitral Award on the West Philippine Sea.