Taguig city: Key reforms in trade facilitation, transportation, and other sectors are in place to support sustained economic growth, Department of Finance Secretary Frederick Go said Friday. Speaking on the sidelines of the Economic Managers Forum in Taguig City, Go highlighted significant measures such as the signing of the single window integrated trade facilitation platform, known as the National Single Window (NSW), and securing budget for the Comprehensive Automotive Resurgence Strategy (CARS) program, despite the veto for its allocation under this year's national budget.
According to Philippines News Agency, the NSW aims to consolidate trade requirements into a single digital portal, which is expected to reduce red tape, delays, and costs. Go emphasized that global studies have shown that a national single window significantly enhances trade and tax collection.
Regarding the CARS program, Go mentioned that the Department of Budget and Management would soon release details of the newly approved funding. "Car manufacturers enrolled in the program can now be assured that the government will fulfill its commitment to investors," he said. President Ferdinand R. Marcos Jr. had vetoed several items in the proposed 2026 budget, including the PHP4.32-billion allocation for the CARS program to curb unprogrammed appropriations. The program is designed to provide fixed investment support and production volume incentives to automotive firms. As of 2025, the government has already released PHP1.44 billion of the program's PHP5.43-billion total budget.
Go also expressed support for the government's decision to grant Chinese business owners and tourists a 14-day visa-free entry through the Manila and Cebu airports. He noted that this move would "boost tourism, trade, and investments and further improve relationships with our largest trading partner." These reforms, aimed at reducing the cost of doing business and enhancing infrastructure, were presented to private sector stakeholders to boost investor confidence and encourage greater investment.
"This is a clear signal that the Philippines is moving forward decisively and not being distracted," the Finance chief stated. "Despite the challenges of the past year, our long-term fundamentals remain strong and intact. Our stable macroeconomic environment, enabling policies, and dynamic workforce provide a solid foundation for sustainable growth. With this, we are now advancing with big bold reforms," he concluded.
