The Federation of Filipino Chinese Chambers of Commerce and Industry Inc (FFCCCII) called on the government to pursue more ambitious economic reforms following a downward revision of the country’s growth targets for 2026 to 2028.
The government recently adjusted its growth targets to 5 percent to 6 percent in 2026, rising to 6 percent to 7 percent by 2028.
FFCCCII said these revisions account for challenges including global trade uncertainties and the lingering effects of a flood control corruption scandal.
The business group warned that these figures should not limit the nation’s economic ambition.
FFCCCII president Victor Lim said sustained annual growth of 8 percent or more is necessary to transform the economy and drive inclusive development.
Lim said growth benefiting only a few is growth betrayed and that a faster, larger and more robust economy provides the resources to ensure a rising tide lifts all boats.
Lim cited regional benchmarks to support the call for higher targets, noting that Vietnam achieved 8 percent growth in 2025 and is targeting 10 percent this year.
He said global investors are attracted to countries perceived as disciplined, efficient and reform-oriented.
The FFCCCII called for immediate reforms including stronger investment in education and public health, the creation of an independent anti-corruption body and the promotion of domestic manufacturing and agriculture.
The group also pushed for transparent infrastructure development and a national strategy to grow tourism and the creative economy.
Favorable macroeconomic fundamentals such as low inflation and potential interest rate cuts should serve as a launchpad for accelerated growth, the group said.
FFCCCII urged a whole-of-nation effort to achieve the 8-percent growth milestone.
