Economy

Thai companies are exploring investment opportunities in the Subic Bay Freeport, signaling growing regional interest in the Luzon Economic Corridor (LEC) as the Philippines positions the flagship growth corridor as a magnet for foreign capital and supply chain investments.

The Philippine Economic Zone Authority (PEZA) and Oman's Public Authority for Special Economic Zones and Free Zones (OPAZ) have identified four priority industries for deeper investment cooperation, as both countries seek to strengthen trade and position their economic zones as complementary gateways to regional markets.

President Ferdinand R. Marcos Jr. is seeking the passage of the proposed ProGRESS bill within the year, with the measure expected to generate billions of pesos for priority government programs while avoiding broad-based tax increases on most Filipinos.

The Bureau of Customs (BOC) collected a record P95.848 billion in July, its highest monthly revenue haul on record, as stronger customs enforcement and improved trade facilitation continued to bolster government revenues.

The Employers Confederation of the Philippines (ECOP) has cautioned regional wage boards against automatically following Metro Manila's latest minimum wage increase, arguing that wage adjustments should reflect local economic realities rather than establish a nationwide template.