FFCCCII: Revised Economic Targets Must Spur Urgent Reforms

Manila, Philippines – The Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) called today for urgent national reforms following the government’s recent revision of economic growth targets for 2026–2028.

The government now projects 5–6% growth in 2026, rising to 6–7% by 2028, citing the lingering impact of the DPWH flood-control corruption scandal and global trade uncertainties. FFCCCII warned that these figures must not limit the nation’s ambition.

“To truly transform lives, the Philippines must aim for 8% growth or more,” said [Spokesperson Name], FFCCCII. “Ambition is not optional—it is necessary for meaningful job creation, poverty reduction, and inclusive prosperity.”

While supporting the government’s focus on health, education, and employment, FFCCCII stressed that inclusivity can only emerge from a strong, fast-growing economy. Growth that benefits only a few, they noted, is growth betrayed.

The organization pointed to Vietnam, which achieved 8% growth in 2025 and targets 10% in 2026, as proof that disciplined governance, investor confidence, and strategic reforms yield measurable results.

FFCCCII outlined key pillars for accelerating Philippine growth:

• Human Capital Development: Outcome-focused spending on education and public health to build a skilled workforce.
• Anti-Corruption Measures: Establish an independent, well-resourced agency to restore confidence.
• Industrial & Agricultural Growth: Support domestic production, reduce smuggling, and tackle unfair competition.
• Economics-First Diplomacy: Pursue foreign policies that open markets for Philippine goods and services.
• Infrastructure & Innovation: Accelerate infrastructure while investing in digital transformation, R&D, and green technology.
• Tourism & Creative Economy: Promote the Philippines globally, creating jobs and showcasing national assets.

FFCCCII emphasized that favorable macroeconomic conditions, including lower inflation and prospective interest-rate cuts, should serve as a launchpad for acceleration, not comfort.

“The revised targets reflect current momentum, but momentum can be changed,” FFCCCII said. “This is the decade to choose ambition over accommodation, reform over resignation, and action over excuses.”