Philippines Economic Modernization through Efficient Reforms and Governance Enhancement (EMERGE) Activity

Client: United States Agency for International Development

2004-2008, SEGIR Priv II

The EMERGE project was enacted to provide technical assistance to the Philippines to support economic policy reforms and foster sustainable economic growth. CARANA helped the Government of the Republic of the Philippines, as well as the business community and civil society, achieve important policy, regulatory, and institutional reforms within the economic and governance areas.

The EMERGE Project focused its resources on providing technical assistance for policy formulation and implementation related to trade, investment, infrastructure, and fiscal reforms essential for accelerated and sustainable growth. CARANA took a demand-driven, market-based, country-owned approach. The technical assistance provided by the project was an essential ingredient to the success of its activities. The approach ensured that the government had a strong sense of ownership over policy reform because of its involvement in the conceptualization, design, and implementation of the assistance.

Activities addressed the following four policy reform themes:

  • Foster an improved and sustainable fiscal position by raising national tax and revenue efforts and developing efficiency in public sector expenditure management
  • Improve foreign trade and Foreign Direct Investment (FDI) performance and competitiveness by renewing tariff and non-tariff barrier reduction and removing policy-induced restrictions on FDI
  • Raise investment efficiency in infrastructure sectors by lowering the cost of inter-island shipping and road transport, advancing telecommunications liberalization, strengthening the role of Local Government Units (LGUs) in infrastructure development, and reinforcing sustainable private sector participation in infrastructure
  • Rationalize and modernize banking and capital markets by reducing the cost of financing and enhancing the transparency and integrity of financial markets