Market Update: Business group pushes governance reforms to boost PH economy in 2026 – Full Analysis

Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII) president Victor Lim on Friday called for urgent governance reforms and inclusive growth as essential requirements for a stronger Philippine economy in 2026.

Lim said the country is at a decisive crossroads where fundamental strengths like demographic vitality and domestic demand are no longer enough to counter global uncertainty and domestic constraints.

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He said that while growth projections remain positive, unresolved governance weaknesses, geopolitical conflicts and a volatile financial environment act as serious headwinds.

The federation said economic competitiveness is inseparable from institutional integrity. It urged the government to establish a genuinely independent anti-corruption body based on international models and to fully implement a Freedom of Information regime.

Lim also advocated for the adoption of advanced digital platforms to track the national budget in real time and ensure every public P1 is accounted for.

The FFCCCII said that the comprehensive digitalization of government transactions is overdue and called for the uniform enforcement of the Ease of Doing Business Act across all local government units.

Lim noted the importance of the country’s role as the host of the 2026 ASEAN Summit. He said Philippine foreign policy should remain independent and pragmatic to promote trade, foreign direct investment and infrastructure development with all major global economies.

To build a more resilient foundation, Lim recommended accelerating the rollout of the PhilSys national ID to expand financial inclusion and fully implementing the Universal Health Care Act.

He also cited the need to modernize agriculture and aquaculture to strengthen food security while reducing logistics and energy costs.

Lim said strengthening domestic manufacturing through measures such as CREATE MORE should be paired with the rigorous enforcement of anti-smuggling laws. He warned that governance lapses, political fragmentation and climate change risks continue to undermine long-term investor confidence.

Despite these challenges, Lim said cautious optimism is warranted if matched by decisive action. He said the political and institutional will to plug fiscal leakages and enforce fair competition would determine whether the Philippines can transform current crises into durable progress.

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