S&P 5007,709.96▼0.2% Nasdaq26,348.35▼0.1% Dow53,885.10▼0.8% Russell 2K3,001.55▼0.6% 10-Yr4.67%+5bp VIX15.15−0.66 WTI$78.07▲3.8% Gold$4,292.00▲1.1% EUR/USD1.152▼0.3% BTC$64,263▼0.5% Nikkei65,101▼1.8%
At close · Fri, Aug 7, 2026
Daily Market Updates.

Global Markets

HomeGlobal MarketsTrade & TariffsPhilippines allows more IT parks in Metro Manila for o…

Philippines allows more IT parks in Metro Manila for outsourcing

A new administrative order lets PEZA accept and evaluate applications for information technology parks and centers in the National Capital Region, partially lifting a 2019 moratorium that pushed investment toward provinces.

The Philippines has moved to revive Metro Manila’s role in the offshore outsourcing industry by allowing more information technology parks and centers in the National Capital Region. Officials and industry executives say the change is intended to help the country compete for higher-value work from multinational companies.

According to SCMP Economy, the decision is meant to support expansion into more complex services, including software engineering and finance, healthcare documentation, data work, and AI-related services, by increasing the availability of modern, incentive-eligible office space in the capital.

The policy also raises an ongoing concern about whether renewing Manila investment could weaken incentives to build outsourcing hubs in provincial cities such as Cebu, Davao, and Clark.

SCMP Economy reports President Ferdinand Marcos Jr issued Administrative Order No. 45 on July 23, directing the Philippine Economic Zone Authority to accept and evaluate new IT park and center applications in Metro Manila, partially lifting a 2019 moratorium designed to steer more activity to the provinces.

More like this

Sources

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.