Economy

The government is stepping up its push to capture a larger share of the lucrative meetings, incentives, conferences and exhibitions (MICE) market, injecting an additional P140 million into the expansion of the World Trade Center Metro Manila (WTCMM) to strengthen the country's business tourism infrastructure.

The government is setting a more ambitious investment agenda with the upcoming Strategic Investment Priority Plan (SIPP), targeting P4.5 trillion in investment approvals over the next three years as it seeks to accelerate industrialization and help the Board of Investments (BOI) achieve its P1-trillion approval goal for 2026.

President Ferdinand R. Marcos Jr.'s working visit to Singapore this week will put trade, investments and sustainability at the forefront of bilateral relations as the Philippines steps up efforts to attract higher-value capital and deepen economic ties with one of its biggest investment partners.

The Board of Investments (BOI) is nearing the halfway mark of its P1-trillion investment approval target for 2026 after first-half approvals climbed 21 percent, signaling that policy reforms and a steady pipeline of renewable energy projects continue to attract capital despite global economic headwinds.

The government is laying the groundwork for a longer-term investment roadmap by aligning the Strategic Investment Priority Plan (SIPP) with the six-year Philippine Development Plan (PDP), a shift aimed at giving investors greater policy certainty while accelerating the country's industrial transformation.