Finance Secretary Ralph G. Recto assured Cebu’s business community that under the Marcos Jr. administration, their trust will be safeguarded, their investments protected, and promises will be delivered so they can prosper and lead the way in driving national progress.
“With President Ferdinand Marcos Jr. as the foremost champion of transparency and good governance, we are cutting red tape, rewarding innovation, and making it easier, faster, and more profitable to do business in the Philippines,” the Finance Chief said in his speech at the Philippine Economic Briefing (PEB) in Cebu on September 18, 2025.
“Because this administration is fully committed to doing everything in its power to help you succeed. For when the private sector wins, the Filipino nation wins,” he added.
With the theme “Building Better, Delivering More”, the economic team brought the Visayas leg of this year’s PEB to Cebu, drawing 500 business leaders and guests.
The Cebu stop kicks off the nationwide roadshow, which will next head to Luzon and Mindanao.
The PEB is the government’s platform to update investors on the country’s economic outlook and investment opportunities, with the end goal of attracting more investors into the Philippines to create more jobs and drive economic growth.
During the briefing, the Secretary spotlighted the Philippines’ strong economic foundation, which he said will cement Cebu’s position as a national powerhouse that competes, creates, and connects the entire country to the world.
Central Visayas has been the fastest-growing regional economy for two consecutive years, expanding by 7.3% annually.
This dynamism has fueled the country’s 5.9% average growth since President Marcos, Jr. took office in 2022—one of the fastest in Asia and nearly double the global pace.
The Finance Chief also pointed to the country’s recent credit rating upgrade and affirmations as proof of strong investor confidence in the country, which translates into lower borrowing costs for the government and more affordable financing for private sector growth and expansion.
He added that this confidence is likewise evident in the robust receptions during the recent PEBs in Japan and India, where new expansion plans are already in motion.
At the same time, Secretary Recto underscored the country’s on-track fiscal consolidation plan, low inflation, and vibrant labor force that position the Philippines to become the world’s 13th-largest consumer market by 2030.
All these will sharpen Cebu’s edge as one of Asia’s premier outsourcing destinations and as the vital gateway for trade linking Luzon, Visayas, and Mindanao to Asia and the rest of the world.
These will also cement Cebu’s dominance in shipbuilding, furniture, and food processing industries and reinforce its stature as a world-class tourism magnet.
“And as Cebu raises the bar, the national government is fully prepared to match its dynamism,” Secretary Recto said.
To demonstrate this commitment, one of the government’s first initiatives was the creation of the Private Sector Advisory Council (PSAC) to allow the private sector to collaborate with the government in shaping policy decisions.
The Finance Chief cited the enactment of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act as one of the key products of the strong partnership.
“This is designed to attract global capital while strengthening domestic enterprises to thrive and secure partnerships with international players,” he said.
Other pro-business reforms successfully rolled out are the Green Lanes for Strategic Investments; the Public-Private Partnership (PPP) Code; the Ease of Paying Taxes Law, VAT Refund on Foreign Tourists, the Capital Markets Efficiency Promotion Act (CMEPA), the rationalization of the mining fiscal regime, and the 99-Year Land Lease Law.
The government is also exploring a general tax amnesty that will allow businesses and individuals to settle past liabilities through a simplified process, giving everyone a fresh start.
He likewise showcased the Build, Better More program, consisting of 207 flagship infrastructure projects, 11 of which are in the Visayas region.
In closing, the Finance Chief urged Cebu’s entrepreneurs to carry their brand of dynamism beyond their shores, spreading the same energy to Luzon, Mindanao, and to every corner of the archipelago.
“Together, let us build better, deliver more, and make the next chapter of Philippine growth not just a story of Manila and Cebu, but a story written by the rest of our islands too—in every province and in every Filipino,” he said.
Present during the briefing were Jokin Aboitiz, Chairman of Aboitiz Power Enerzones, and Jay Yuvallos, President of the Cebu Chamber of Commerce Inc.
The government side was composed of Province of Cebu Governor Pamela Silagan Baricuatro; Cebu City Mayor Nestor Dionson Archival Sr.; and senior officials from the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA); the Department of Economy, Planning, and Development (DepDev); the Department of Budget and Management (DBM); and the Bangko Sentral ng Pilipinas (BSP).
Senior representatives from the Department of Public Works and Highways (DPWH); the Department of Transportation (DOTr); the Department of Tourism(DOT); the Department of Information and Communications Technology (DICT); and the Public-Private Partnership Center were also in attendance.
