The Philippines has rebuilt its International Co-Production Fund (ICOF) into a two-track system where the cash on offer is tied to how much of the project Filipino partners actually own. The Film Philippines Office (FPO) presented the new framework at the Asian Contents & Film Market in Busan.
Majority track: more stake, more money
Projects led by Filipino producers working with foreign partners can now receive up to PHP13 million ($210,000) for features and series, and up to PHP5 million ($80,000) for documentaries and shorts.
The eligibility bar is specific. The Filipino side must hold at least 20% of the project and the largest share among co-producers. Two Filipinos need to sit in above-the-line roles — director, writer or actor — and five more in key creative or technical crew positions. The application also requires a release strategy for the Philippines and international markets, while foreign partners must take a minority stake and match the Filipino side with a creative or technical contribution.
Minority track: a lower entry point
For international productions where a Filipino producer is the junior partner, features and series can receive up to PHP7 million ($113,000), with documentaries and shorts capped at PHP3 million ($48,000).
The requirements are lighter: a 10% Filipino stake is enough, plus either two Filipino above-the-line talents or three Filipino crew in key creative or technical roles. Applicants must also show how the project will reach audiences outside the Philippines.
Top-ups both tracks can claim
- Qualifying ASEAN co-productions can add PHP1 million ($16,000).
- Projects that clear a cultural test can add up to PHP2 million ($32,000).
- The dollar values are indicative and may shift with exchange rates, the FPO noted.
Why the restructure matters
The FPO sits inside the Film Development Council of the Philippines, the national film agency that reports to the Office of the President. It runs incentives for international co-productions and for line and post-production work, and also provides government-permit endorsements and location referrals. That makes the ICOF a practical gateway for producers and platforms scouting a lower-cost shooting base with a formal co-production partner.
The fund already has festival results behind it. ICOF-backed titles include “Another World,” which won best animated feature at the 62nd Golden Horse Awards in November 2025, and “Diamonds in the Sand,” which took the Mulberry Award for best debut at Udine’s Far East Film Festival. The separate Film Location Incentive Program has backed “Filipiñana,” a special jury award winner at Sundance, and “The Garden of Earthly Delights,” named best film at Torino.
For media planners and entertainment marketers, the new structure is a budgeting signal: decide early whether your project is a majority or minority Filipino co-production, and the available incentive becomes easy to model. The cultural test is the variable to watch, since clearing it can add more than the entire documentary cap on the minority track.
Source: Variety
