Philippines Restructures Co-Production Fund With Two Tracks at Busan Market

The Philippines has overhauled its International Co-Production Fund (ICOF) into two distinct tracks, with funding amounts now tied directly to the size of the Filipino stake in each project. The Film Philippines Office (FPO) announced the new framework during the Busan International Film Festival's Asian Contents & Film Market, signaling a strategic push to attract more international collaborations.

Under the Majority Track, projects where Filipino partners hold a controlling interest will access higher levels of financial support. A separate Minority Track provides funding for projects with smaller Filipino participation, creating a tiered system designed to accommodate a wider range of co-production structures and encourage diverse partnerships.

The revamp aims to make the Philippines a more competitive co-production hub in Asia by aligning incentives with local creative involvement. Industry observers at Busan noted the move could stimulate more cross-border projects and strengthen the country's position in regional film financing networks.

This brief draws on reporting from Variety.