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The Philippines has pursued a policy of economic liberalization in the past decade, which has resulted in the liberalization of its retail trade, telecommunications, banking, mining, oil sector, and more recently its power sector.
The Philippine government is currently implementing reforms to strengthen its economy.
It has recently enacted the Optical Media Act that strengthens intellectual property rights protection, and has advanced the government-wide use of the e-procurement system to promote transparency in government purchases. It has strengthened its regulations in the banking sector, and is undergoing fiscal consolidation through the strengthening of the tax base and tightening of spending, in line with its Medium-Term Development Plan...
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