NEWS

The Manila Times | August 30, 2026 12:05am

ADVOCATING ECONOMIC GROWTH Finance Secretary Frederick Go. IMAGE FROM DOF

THE Department of Finance (DOF) welcomed Executive Order (EO) 122, which establishes a national policy framework for the responsible development of the Philippines’ mining and critical minerals sector and aims to harness its potential for economic growth and industrialization.

Signed by President Ferdinand Marcos Jr. on Aug. 21, EO 122 promotes value-added processing and downstream industries, investment and competitiveness, streamlined government processes, and responsible mining practices.

Finance Secretary and investment czar Frederick Go said the order provides a framework for moving beyond raw mineral extraction and exports toward processing, manufacturing, and other value-adding activities that create jobs and attract investments.

At the center of the policy is a competitive domestic critical minerals value chain. The DTI-Board of Investments, in coordination with the DENR, will promote investments in mineral refining, advanced materials processing, batteries, electronic components, renewable energy technologies and other downstream products.

EO 122 also supports side-stream industries, including energy, water, transport and logistics, as well as mineral recovery and recycling. It calls for sustainable resource development, implementation of the “Use It or Lose It” policy, and faster disposition of government-owned mining assets.

The order also designates the Finance and Environment secretaries as co-chairs of the Mining Industry Coordinating Council, strengthening inter-agency coordination.

With rising global demand for critical minerals, the policy seeks to position the Philippines for greater participation in emerging global value chains while advancing industrialization and long-term economic growth.

Source: The Manila Times

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