Biz groups: 2026 crucial year for Marcos reforms
Businesses are urging the Marcos administration to avoid complacency and instead drive for reforms as the nation stands at a “decisive crossroads” in 2026, warning that the Philippines’ growth prospects will depend less on optimism and more on decisive action to address governance challenges.
In a statement on New Year’s Day, the Federation of Filipino Chinese Chambers of Commerce and Industry (FFCCCII) said that while the economy remains fundamentally resilient, structural weaknesses persist, hindering growth and dampening investor confidence.
“As we approach 2026, the Philippine economy stands at a decisive crossroads,” said FFCCCII president Victor Lim. “The year ahead calls not for complacent optimism, but for disciplined, coordinated and reform-driven action across government, business and civil society.”
To achieve this, the FFCCCII said reforms must begin with stronger institutions. It reiterated calls for the creation of a “genuinely independent” anticorruption body, similar to those in Singapore and Hong Kong.
Other business groups have raised similar concerns in recent weeks, citing the limited effectiveness of the Independent Commission for Infrastructure (ICI), the fact-finding body chiefly responsible for investigating anomalous flood control and other infrastructure projects involving billions of pesos in alleged kickbacks to lawmakers and other government officials.
The ICI enters 2026 with only one commissioner—its chair, former Supreme Court justice Andres Reyes Jr.—following the resignation of Commissioners Rossana Fajardo and Rogelio “Babes” Singson in December.
The FFCCCII also called for technology-driven transparency measures, including real-time budget tracking, open contracting standards and stronger private-sector and civil society participation in monitoring public spending.
“The comprehensive digitalization of government transactions is overdue—it is no longer optional,” the chamber said, noting that “bureaucratic friction” continues to raise compliance costs and create regulatory uncertainty.
Another wish that FFCCCII has for 2026 is the strict enforcement of the Ease of Doing Business Act across all local government units. The chamber said the uneven implementation of this law is burdening investors and small businesses.
Beyond domestic reforms, the FFCCCII said the government must pursue a more consistent and economics-driven foreign policy. It urged the government to anchor diplomacy on trade, investment, tourism, technology, infrastructure development and strategic cooperation.
In a separate message to the Inquirer, incoming Philippine Chamber of Commerce and Industry (PCCI) president Ferdinand Ferrer said economic performance in 2026 would also hinge on developments abroad.
In particular, Ferrer hoped that progress would be made toward ending the wars in Ukraine and Gaza, which he said would be crucial in easing supply chain disruptions and global trade pressures.
Despite these headwinds, he said the Philippines remained “positioned to be one of the high-growth countries” in the Association of Southeast Asian Nations next year.
As businesses look ahead to 2026, the FFCCCII said cautious optimism is warranted, but only if the government takes serious steps to implement reforms.
“To unlock our full economic potential in 2026 and beyond, the Philippines must accelerate foundational reforms with clarity, resolve and consistency of purpose,” it said.
In December, business and civil society groups made a strong push for transparency with four key reform proposals in response to the infrastructure corruption and kickback scandal where close to 20 percent of over P500 billion in flood control projects were controlled by just 15 of over 2,000 companies from 2022 to 2025.
The Management Association of the Philippines, the Institute of Corporate Directors, the Justice Reform Initiative and the Institute of Solidarity in Asia urged President Marcos to start implementing these in January 2026.
The proposals were:
• Real-time verification system linking the Securities and Exchange Commission, Bureau of Internal Revenue, Cooperative Development Authority and Modernized Philippine Government Electronic Procurement System (mPhilGEPs) to immediately flag suspicious payments and to disclose the ultimate beneficial owners to expose shell corporations with government contracts.
• Public accessibility to disbursements and contract variations linked to PhilGEPs to ensure full transparency of the life cycle of all government projects.
• Rapid audit involving the Commission on Audit, Anti-Money Laundering Council and the Department of Budget and Management within 90 days of the first red flag raised on a government project.
• Public dashboard allowing citizens to tract project delays, cost overruns and repeat contract winners and secure channels for whistleblowers.
The groups are also calling on the antigraft court, Sandiganbayan, and the Office of the Ombudsman to prioritize the “swift resolution” of cases to break the cycle of impunity and to restore public trust in the rule of law.
