The Makati Business Club (MBC) believes that the liberalization of the domestic economy over the last ten years should be complemented by reforms in transparency, governance, and ease of doing business (EODB).
MBC Executive Director Apa Ongpin issued this statement following a disappointing gross domestic product (GDP) report. Data from the Philippine Statistics Authority (PSA) showed that Philippine GDP grew by 3.0 percent in the fourth quarter of 2025, 43 percent lower than the 5.3 percent growth recorded in the same quarter last year, according to the Philippine Statistics Authority (PSA).
This wrapped up 2025 full year growth at 4.4 percent from 5.7 percent in 2024, below the government’s growth target of 5.5 to 6.5 percent for 2025. Both numbers are also below the median forecast of economists at 4.2 percent for Q4 2025 and 4.8 percent for full year growth. This performance marks the slowest full-year post- pandemic expansion for the Philippine economy.
Ongpin noted that significant areas of the Philippine economy have been liberalized in the last ten years, and fiscal incentives have been rationalized and expanded. “These economic reforms need to be complemented by reforms in transparency, governance, and ease of doing business (EODB),“ he said.
MBC believes that key legislation, like the Freedom of Information bill, Amendments to the Bank Secrecy law, and institutionalizing a budget process more open to public scrutiny, are important to economic development.
He added that the government should also make sure that EODB practices are well implemented while the LGU-level and agency-level digitalization initiatives (such as one-window portals) are ramped up.
