Economy

President Ferdinand R. Marcos Jr. has expanded the West Cebu Industrial Park–Special Economic Zone (WCIP-SEZ) by 64.7 hectares, a move expected to strengthen Cebu's position as a major industrial hub and support thousands of new jobs in the Visayas.

The Philippines' unemployment rate rose to 4.7 percent in April as the economy failed to keep up with the increase in the number of Filipinos joining the workforce. 

The Philippines and Egypt are exploring new avenues for trade and investment cooperation, with discussions ranging from textile manufacturing opportunities using premium Egyptian cotton to the possible revival of a bilateral economic committee aimed at deepening commercial ties.

The Marcos administration has approved the 2026 Strategic Investment Priority Plan (SIPP), a move that economic managers say will sharpen the country's investment strategy by channeling incentives toward industries expected to drive future growth, job creation, and economic transformation.

Malacañang has rejected allegations that the Philippines lacks adequate safeguards against forced labor, pushing back against findings in a recent United States Trade Representative (USTR) review that could potentially expose certain Philippine exports to additional tariffs.