The Philippines’ Department of Finance intends to include the Enhanced Mining Fiscal Regime Act as part of a pitch to Singapore investors to support priority industries. The pitch forms part of the country’s efforts to sustain long-term economic growth.
Finance Secretary Frederick Go outlined the strategy at the Milken Institute Asia Summit, highlighting sectors identified in the country’s 2026 Strategic Investment Priority Plan.
“While reforming our policies, we are building sectors that are ready for immediate investment,” Go said.
“These are our strategic investment pillars, and they represent both growth and stability.
“We are inviting deeper cooperation and long-term investments in our priority sectors.”
The Enhanced Mining Fiscal Regime Act was signed into law by President Ferdinand Marcos on 4 September 2025. The reform removes complex tax distinctions among different types of mineral agreements.
It mandates a fixed 5% royalty on gross output inside mineral reservations; and a margin-based loyalty of 1–5% outside reservations. It also adds an extra 1–10% levy on net mining income when profit margins reach or surpass 30%.
The tax reform also treats each mining project as a separate entity and earmarks 40% of collections for host local government units.
Alongside mineral processing and extraction, priority industries include semiconductors, renewable energy, infrastructure, pharmaceuticals and medical devices, food and agriculture, steel, and tourism.
In his speech, Go acknowledged that “there are many short-term challenges”.
“But as I close, let me say this with confidence: The Philippines is moving forward into the future with stronger fundamentals, greater opportunities, and a more competitive investment environment,” he said.
“And for us to sustain this momentum, we need the private sector as our partner to bring capital, technology, innovation, and jobs.”
Write to Paula Fabe at Mining.com.au
Main image: Facebook.com/DoFPh
