PCCI lauds Malacañang initiative to cut red tape

February 11, 2026 | 12:00am

MANILA, Philippines — The country’s largest business organization yesterday welcomed Malacañang’s move to streamline investment and economic initiatives, noting that it reflects the government’s commitment to cut red tape.

In a statement yesterday, the Philippine Chamber of Commerce and Industry (PCCI) welcomed the issuance of Executive Order (EO) 108 and Finance Secretary Frederick Go’s continuing role as the economic czar.

Under EO 108, Go was designated as the chairperson of the Economic Development Committee (EDCom), giving him oversight of strategic investment priorities.

Go previously served as the head of the now dissolved Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA).

Previously, the SAPIEA served as chair of the EdCom.

For the PCCI, the move is expected to streamline investment promotion efforts, strengthen competitiveness and help attract more investments.

“We commend the administration for consolidating its economic team under Secretary Go’s leadership. His continuing role as economic czar sends a strong signal that the government is serious about improving efficiency and reducing bureaucratic red tape,” PCCI president Ferdinand Ferrer said.

He said Go’s swift response to concerns raised by businesses is a clear demonstration of leadership.

During a Feb. 5 dialogue, the PCCI raised its concerns over the P500,000 cash transaction threshold under Bangko Sentral ng Pilipinas (BSP) Circular 1218, which disrupted legitimate cash flows of micro and small enterprises.

Ferrer said Go immediately committed to coordinate with BSP Governor Eli Remolona Jr. on the matter.

On Feb. 6, Remolona signed a memorandum which introduced risk-based flexibilities and streamlined due diligence requirements.

“The speed with which Secretary Go acted provided immediate relief to businesses, especially micro and small enterprises that remain heavily reliant on cash transactions,” Ferrer said.

For the PCCI, EO 108 and Go’s responsiveness to business concerns show the importance of government and private sector collaboration in bringing in reforms.

The PCCI said it would continue to work with government agencies for a more efficient, transparent and competitive business environment.

Recommended