Government-owned and controlled corporation

State-owned enterprise in the Philippines

In the Philippines, a government-owned and controlled corporation (GOCC; Filipino: Korporasyong ari at kontrolado ng pamahalaan), sometimes with an "and/or",[1] is a state-owned enterprise that conducts both commercial and non-commercial activity. Examples of the latter would be the Government Service Insurance System (GSIS), a social security system for government employees. There are 219 GOCCs as of 2022.[2] GOCCs both receive subsidies and pay dividends to the national government. A government-owned or controlled corporation is a stock or a non-stock corporation, whether performing governmental or proprietary functions, which is directly chartered by a special law or if organized under the general corporation law is owned or controlled by the government directly, or indirectly through a parent corporation or subsidiary corporation, to the extent of at least a majority of its outstanding capital stock or of its outstanding voting capital stock.

Under the GOCC Governance Act (Republic Act No. 10149), GOCCs are overseen by the Governance Commission for GOCCs (GCG).[3] The Governance Commission is the "government's central advisory and oversight body over the public corporate sector" according to the Official Gazette.[4] The GCG, among other duties, prepares for the president of the Philippines a shortlist of candidates for appointment by the president to GOCC boards.[3]

Many but not all GOCCs have their own charter or law outlining its responsibilities and governance.[5]

## Finances

[edit]

2014 operation subsidies and program funds that GOCCs received from the national government

GOCCs receive from the government "subsidies" and "program funds".[6] Subsidies cover the day-to-day operations of the GOCCs when revenues are insufficient while program funds are given to profitable GOCCs to pay for a specific program or project.[6]

Subsidies from the National Government in 2011 amounted to 21 billion Philippine pesos.[7] In the 2013 fiscal year, the national government gave P71.9 billion pesos to GOCCs in subsidies, nearly twice the 44.7 billion pesos that was programmed in the budget.[2] In 2014, 77.04 billion pesos was spent on GOCCs by the national government, 3% of which was classified as subsidies and 97% was classified as program funds.[6]

In 2013, on "GOCC Dividend Day", the Philippine government received 28-billion Philippine pesos in dividends and other forms of remittances from the 2012 operations of 38 GOCCs.[8] Eight GOCCs remitted 1 billion pesos each: Philippine Reclamation Authority (PRA)(P1 billion pesos), Philippine Ports Authority (PPA)(1.03-billion), Manila International Airport Authority (MIAA)(P1.54-billion), Philippine Amusement and Gaming Corporation (PAGCOR) (P7.18-billion), Power Sector Assets and Liabilities Management Corporation (PSALM)(P2-billion), Bases Conversion Development Authority (BCDA)(P2.30-billion), Development Bank of the Philippines (DBP) (P3.16-billion) and Land Bank of the Philippines (LBP) (P6.24-billion). Under Republic Act No. 7656, all GOCCs are required to "declare and remit at least 50% of their annual net earnings as cash, stock or property dividends to the National Government."[8] The Commission on Audit reports that in 2013 of the 219 profitable GOCCs, only 45 remitted a full 50% share of their dividends to the national treasury, leaving 174 others with unremitted government shares, amounting to more than P50 billion.[2] Dividends remitted were only one-tenth (1/10) of the total required by law according to the commission.[2]

In 2014, on "GOCC Dividend Day", the Philippine government received 32.31 billion Philippine pesos worth of dividends and other remittances from 50 GOCCs.[9] Seven GOCCs submitted over a billion pesos each: Development Bank of the Philippines (DBP) with P3.616 billion; Power Sector Assets and Liabilities Management Corporation (PSALM) with P2.5 billion; Bases Conversion Development Authority (BCDA) with P2.107 billion; Manila International Airport Authority (MIAA) with P1.577 billion; Philippine National Oil Company-Exploration Corporation (PNOC-EC) with P1.5 billion; Philippine Ports Authority (PPA) with P1.422 billion; and Philippine Deposit Insurance Corporation (PDIC) with P1.05 billion.[9]

## List

[edit]

See also: Category:Government-owned and controlled corporations of the Philippines

List adapted from Integrated Corporate Reporting System's list.[10][11]

### Government financial institutions

[edit]

#### Banking institutions

[edit]

* Al-Amanah Islamic Investment Bank of the Philippines (AIIBP)
* Development Bank of the Philippines (DBP)
* DBP Data Center, Inc. (DCI)
* Land Bank of the Philippines (LBP)
* Land Bank Countryside Development Foundation, Inc. (LCDFI)
* LBP Resources and Development Corporation (LBRDC)
* Overseas Filipino Bank (OFB)
* UCPB Savings Bank (UCPB-SB)[a]

#### Non-banking institutions

[edit]

* Credit Information Corporation (CIC)
* DBP Leasing Corporation (DBP-LC)
* LBP Insurance Brokerage, Inc. (LIBI)
* LBP Leasing and Finance Corporation (LLFC)
* National Development Company (NDC)
* National Home Mortgage Finance Corporation (NHMFC)
* Philippine Crop Insurance Corporation (PCIC)
* Philippine Deposit Insurance Corporation (PDIC)
* Small Business Corporation (SBCorp)
* Social Housing Finance Corporation (SHFC)
* Philippine Guarantee Corporation (PHILGUARANTEE)
* UCPB Leasing and Finance Corporation (ULFC)

#### Social security institutions

[edit]

* Employees Compensation Commission (ECC)
* Government Service Insurance System (GSIS)
* Home Development Mutual Fund (Pag-IBIG Fund)
* Overseas Workers Welfare Administration (OWWA) Trust Fund[12]
* Philippine Health Insurance Corporation (PhilHealth)
* Social Security System (SSS)
* Veterans Federation of the Philippines (VFP)

### Trade, area development, and tourism sector

[edit]

#### Trade

[edit]

* Center for International Trade Expositions and Missions (CITEM)
* Duty Free Philippines Corporation (DFPC)
* Philippine International Trading Corporation (PITC)
* Philippine Pharma Procurement, Inc. (PPPI)
* National Food Authority (NFA)
* Planters Products, Inc. (PPI)
* Planters Foundation, Inc. (PFI)

#### Area development

[edit]

* Bases Conversion and Development Authority (BCDA)
* Clark Development Corporation (CDC)
* John Hay Management Corporation (JHMC)
* Laguna Lake Development Authority (LLDA)
* National Housing Authority (NHA)
* Palacio del Gobernador Condominium Corporation (PDGCC)
* Philippine Reclamation Authority (PRA)
* Poro Point Management Corporation (PPMC)
* Quezon City Development Authority (QCDA)
* Southern Philippines Development Authority (SPDA)
* Tourism Infrastructure and Enterprise Zone Authority (TIEZA)

#### Tourism

[edit]

* Corregidor Foundation, Inc. (CFI)
* Marawi Resort Hotel, Inc. (MRHI)
* Philippine Retirement Authority (PRA)
* Tourism Promotions Board (TPB)

### Educational and cultural sector

[edit]

#### Educational

[edit]

* Boy Scouts of the Philippines (BSP)
* Girl Scouts of the Philippines (GSP)
* Philippine Tax Academy (PTA)

#### Cultural

[edit]

* Cultural Center of the Philippines (CCP)
* Nayong Pilipino Foundation (NPF)

### Gaming sector

[edit]

* Philippine Amusement and Gaming Corporation (PAGCOR)
* Philippine Charity Sweepstakes Office (PCSO)

### Energy and materials sector

[edit]

#### Energy

[edit]

* National Electrification Administration (NEA)
* National Power Corporation (NPC)
* National Transmission Corporation (TRANSCO)
* Philippine National Oil Company (PNOC)
* Power Sector Assets and Liabilities Management Corporation (PSALM)
* PNOC Exploration Corporation (PNOC-EC)
* PNOC Renewables Corporation (PNOC-RC)
* Philippine Electricity Market Corporation (PEMC)

#### Materials

[edit]

* Batong Buhay Gold Mines, Inc. (BBGMI)
* Bukidnon Forest, Inc. (BFI)
* Natural Resources Development Corporation (NRDC)
* Philippine Mining Development Corporation (PMDC)[b]

### Agriculture, fisheries, and food sector

[edit]

#### Agriculture and fisheries

[edit]

* National Dairy Authority (NDA)
* National Tobacco Administration (NTA)
* Philippine Coconut Authority (PCA)
* Philippine Fisheries Development Authority (PFDA)
* Sugar Regulatory Administration (SRA)

#### Food

[edit]

* Cagayan de Oro Oil Company, Inc. (CAGOIL)
* Food Terminal Inc. (FTI)[c]
* Granexport Manufacturing Corporation (Granex)
* Iligan Coconut Industries, Inc. (ILICOCO)
* Legaspi Oil Company, Inc. (LEGOIL)
* National Sugar Development Company (NASUDECO)[c]
* San Pablo Manufacturing Corporation (SPMC)
* Southern Luzon Coconut Oil Mill, Inc. (SOLCOM)

### Utilities and communications sector

[edit]

#### Utilities

[edit]

* Cebu Port Authority (CPA)
* Civil Aviation Authority of the Philippines (CAAP)
* Clark International Airport Corporation (CIAC)
* Davao International Airport Authority (DIAA)
* Light Rail Transit Authority (LRTA)
* Local Water Utilities Administration (LWUA)
* Mactan–Cebu International Airport Authority (MCIAA)
* Manila International Airport Authority (MIAA)
* Metropolitan Waterworks and Sewerage System – Corporate Office (MWSS-CO)
* Metropolitan Waterworks and Sewerage System – Regulatory Office (MWSS-RO)
* National Irrigation Administration (NIA)
* PEA Tollway Corporation (PEA-TC)
* Philippine Aerospace Development Corporation (PADC)
* Philippine National Construction Corporation (PNCC)[c]
* Philippine National Railways (PNR)
* Philippine Ports Authority (PPA)

#### Communications

[edit]

* APO Production Unit, Inc. (APO-PUI)
* People's Television Network, Inc. (PTNI)
* Philippine Postal Corporation (PHLPost)

### Healthcare services sector

[edit]

* La Union Medical Center (LUMC)

### Realty and/or holding companies

[edit]

* Anglo Ventures Corporation
* AP Holdings, Inc.
* ARC Investors, Inc.
* ASC Investors, Inc.
* Batangas Land Company, Inc. (BLCI)
* Fernandez Holdings, Inc.
* First Meridian Development, Inc.
* G. Y. Real Estate, Inc. (GYREI)
* Kamayan Realty Corporation (KRC)
* Pinagkaisa Realty Corporation (PiRC)
* Randy Allied Ventures, Inc.
* Rock Steel Resources, Inc.
* Roxas Shares, Inc.
* San Miguel Officers Corp. Inc.
* Soriano Shares, Inc.
* Te Deum Resources, Inc.
* Toda Holdings, Inc.
* Valhalla Properties, Inc.

### GOCCs supervised by the Presidential Commission on Good Government

[edit]

See also: Presidential Commission on Good Government

* Banahaw Broadcasting Corporation (BBC)
* Bataan Shipyard and Engineering Company (BASECO)
* Chemfields, Inc. (CI)
* Independent Realty Corporation (IRC)
* Mid-Pasig Land Development Corporation (MLDC)
* Performance Investment Corporation (PIC)
* Piedras Petroleum Company, Inc. (PIEDRAS)
* UCPB–CIIF Finance and Development Corporation (COCOFINANCE)
* UCPB–CIIF Foundation, Inc.
* United Coconut Chemicals, Inc. (COCOCHEM)
* United Coconut Planters Bank General Insurance, Inc. (COCOGEN)
* United Coconut Planters Life Assurance Corporation (COCOLIFE)

### Under privatization

[edit]

* Intercontinental Broadcasting Corporation (IBC)
* Monterrosa Development Corporation (MDC)

### Non-operational, inactive, or deactivated

[edit]

* Anchor Estate, Inc. (AEI)
* Aviation Services and Training Institute (ASTI)
* BCDA Management and Holdings, Inc. (BMHI)
* Calauag Quezon Province Integrated Coconut Processing Plant, Inc. (CQPICPPI)
* Clark Polytechnic Development Foundation (CPDF)
* DBP Management Corporation (DBPMC)
* First Centennial Clark Corporation (FCCC)
* GSIS Family Bank (GSIS-FB)
* GSIS Mutual Fund, Inc. (GSIS-MFI)
* GSIS Properties, Inc. (GSIS-PI)
* Integrated Feed Mills Manufacturing Corporation (IFMC)
* Inter-Island Gas Service, Inc. (IIGSI)
* LBP Financial Services SpA (Rome, Italy) (LBP-FSS)
* LBP Remittance Company (USA) (LBP-RC)
* LBP Singapore Representative Office (LBP-SRO)
* LBP Taiwan Representative Office (LBP-TRO)
* LWUA Consult, Inc. (LWUA-CI)
* Manila Gas Corporation (MGC)
* Masaganang Sakahan, Inc. (MSI)
* Meat Packing Corporation of the Philippines (MPCP)
* Metro Transit Organization, Inc. (MTOI)
* NDC–Philippine Infrastructure Corporation (NPIC)
* North Davao Mining Corporation (NDMC)
* North Luzon Railways Corporation (NORTHRAIL)
* Paskuhan Development, Inc. (PDI)
* Phil. Centennial Expo '98 Corp. (EXPO FILIPINO)
* Philpost Leasing and Financing Corporation (PLFC)

### Under abolishment

[edit]

* AFP Retirement and Separation Benefits System (AFP-RSBS)
* Alabang–Sto. Tomas Development, Inc. (ASDI)
* CDCP Farms Corporation (CDCP-FC)
* Disc Contractors, Builders and General Services, Inc. (DISC)
* First Cavite Industrial Estate, Inc. (FCIEI)
* HGC Subic Corporation (HGC-SC)
* Human Settlements Development Corporation (HSDC)
* National Agri-Business Corporation (NABCOR)
* NIA Consult, Inc. (NIACI)
* Northern Foods Corporation (NFC)[c]
* Panay Railways, Inc. (PRI)[c]
* Partido Development Administration (PDA)
* Philippine Agricultural Development and Commercial Corporation (PADCC)
* Philippine Forest Corporation (PFC)
* Philippine Fruits and Vegetables Industries, Inc. (PFVII)
* Philippine Sugar Corporation (PHILSUCOR)[c]
* Philippine Veterans Assistance Commission (PVAC)
* Philippine Veterans Investment Development Corporation (PHIVIDEC)
* PNOC Alternative Fuel Corp. (PNOC-AFC)
* PNOC Development and Management Corporation (PNOC-DMC)
* PNOC Shipping and Transport Corporation (PNOC-STC)
* Quedan and Rural Credit Guarantee Corporation (QUEDANCOR)
* San Carlos Fruits Corporation (SCFC)
* Technology Resources Center (TRC)
* Tierra Factors Corporation (TFC)
* Traffic Control Products Corporation (TCPC)
* Zamboanga National Agricultural College – Rubber Estate Corp. (ZREC)

### Dissolved or abolished

[edit]

* Bataan Technology Park, Inc. (BTPI)
* Cottage Industry Technology Center (CITC)
* National Livelihood Development Corp. (NLDC)[d]
* People's Credit and Finance Corporation (PCFC)

### Privatized

[edit]

* Metro Manila Transit Corporation (MMTC)
* Southern Utility Management and Services, Inc. (SUMSI)

### Merged GOCCs

[edit]

* Home Guaranty Corporation (HGC)[e]
* United Coconut Planters Bank (UCPB)[f]

### GOCCs disposed by the Privatization and Management Office

[edit]

* Menzi Development Corporation (MDC)

### GOCCs excluded from the coverage of Republic Act No. 10149

[edit]

* Bangko Sentral ng Pilipinas (BSP)
* Central Bank – Board of Liquidators (CB-COL)
* Development Academy of the Philippines (DAP)
* Philippine International Convention Center (PICC)
* PHIVIDEC Panay Agro-Industrial Corp. (PPAlC)

#### Research institutions

[edit]

* Lung Center of the Philippines (LCP)
* National Kidney and Transplant Institute (NKTI)
* Philippine Center for Economic Development (PCED)
* Philippine Children's Medical Center (PCMC)
* Philippine Heart Center (PHC)
* Philippine Institute for Development Studies (PIDS)
* Philippine Institute of Traditional and Alternative Health Care (PITAHC)
* Philippine Rice Research Institute (PRRI)

#### Economic zone authorities

[edit]

* Aurora Pacific Economic Zone and Freeport Authority (APECO)
* Authority of the Freeport Area of Bataan (AFAB)
* Cagayan Economic Zone Authority (CEZA)
* Freeport Services Corporation (FSC)
* Northeastern Luzon Pacific Coastal Services, Inc. (NLPCS)
* Philippine Economic Zone Authority (PEZA)
* Phividec Industrial Authority (PIA)
* Subic Bay Metropolitan Authority (SBMA)
* Zamboanga City Special Economic Zone Authority (ZCSEZA)

#### Created by a Supreme Court decision

[edit]

* Radio Philippines Network (RPN)

#### Sui generis

[edit]

* Millennium Challenge Account Philippines (MCAP)

## See also

[edit]

* Philippines portal
* Companies portal

* List of government-owned companies

## Notes

[edit]

1. ^ formerly PostBank
2. ^ formerly NRMDC
3. ^ a b c d e f under the Privatization and Management Office of the Department of Finance
4. ^ merger between Livelihood Corporation (LIVECOR) and National Livelihood Support (NLSF)
5. ^ merged with PhilExim to form PHILGUARANTEE
6. ^ turned over from the Presidential Commission on Good Government (PCGG) to the Governance Commission for GOCCs (GCG)[13]

## References

[edit]

1. ^ "Government-Owned and/or Controlled Corporations". Official Gazette. Republic of the Philippines. Archived from the original on May 26, 2015. Retrieved July 29, 2017.
2. ^ a b c d Lopez, Melissa Luz T. (May 25, 2015). "State-run corporations only remitted a tenth of dividends". BusinessWorld. Retrieved July 29, 2017.
3. ^ a b Cayabyab, Marc Jayson (May 25, 2015). "House passes DBP, LBP merger bill". Philippine Daily Inquirer. Retrieved May 26, 2015.
4. ^ "President Aquino approves closure of 7 nonperforming GOCCs". Official Gazette. October 22, 2014. Retrieved May 26, 2015.
5. ^ "GCG marks third year as overseer of GOCC sector". Official Gazette. June 6, 2014. Retrieved May 26, 2015.
6. ^ a b c "GOCC 2014 OPERATING SUBSIDIES AND PROGRAM FUNDS". Governance Commission for GOCCs. Archived from the original on May 26, 2015. Retrieved May 26, 2015.
7. ^ Cabuag, V.S. (March 8, 2012). "Government subsidies to GOCCs grew by 155% in 2011". BusinessMirror. Retrieved July 5, 2012.[permanent dead link]
8. ^ a b "President Aquino receives P28-billion representing dividend contributions from 38 Government-Owned and Controlled Corporation in Malacañang". Office of the President of the Philippines. June 3, 2013. Archived from the original on August 6, 2013. Retrieved May 26, 2015.
9. ^ a b "GOCCs remit P32.31B to National Treasury". Philippine national government. Official Gazette. June 9, 2014. Retrieved May 26, 2015.
10. ^ "Classification of GOCCs by SECTORS as of 28 June 2022" (PDF). Integrated Corporate Reporting System. Governance Commission for GOCCs. June 28, 2022. Retrieved January 25, 2023.
11. ^ Cabuag, V. S. (July 1, 2012). "Subsidies to GOCCs declined in May". BusinessMirror. Archived from the original on November 29, 2014. Retrieved July 5, 2012.
12. ^ https://globalnation.inquirer.net/277551/owwa-trust-fund-not-used-in-p1-4-b-illegal-land-deal-says-palace
13. ^ Kilayko, Jeronimo U. (March 22, 2016). "UCPB's Official Statement on the Turnover of UCPB to GCG" (Press release). United Coconut Planters Bank. Retrieved January 26, 2023.

## External links

[edit]

* Official website of the Governance Commission of GOCCs
* List of GOCCs from the Official Gazette of the Philippines
* List of GOCCs from the Department of Budget and Management
* Directory of 67 GOCCs' websites from the Department of Science and Technology

* v
* t
* e

State-owned enterprises of Asia

Sovereign states|

* Afghanistan
* Armenia
* Azerbaijan
* Bahrain
* Bangladesh
* Bhutan
* Brunei
* Cambodia
* China
* Cyprus
* Egypt
* Georgia
* India
* Indonesia
* Iran
* Iraq
* Israel
* Japan
* Jordan
* Kazakhstan
* North Korea
* South Korea
* Kuwait
* Kyrgyzstan
* Laos
* Lebanon
* Malaysia
* Maldives
* Mongolia
* Myanmar
* Nepal
* Oman
* Pakistan
* Philippines
* Qatar
* Russia
* Saudi Arabia
* Singapore
* Sri Lanka
* Syria
* Tajikistan
* Thailand
* Timor-Leste (East Timor)
* Turkey
* Turkmenistan
* United Arab Emirates
* Uzbekistan
* Vietnam
* Yemen

States with
limited recognition|

* Abkhazia
* Northern Cyprus
* Palestine
* South Ossetia
* Taiwan

Dependencies and
other territories|

* British Indian Ocean Territory
* Christmas Island
* Cocos (Keeling) Islands
* Hong Kong
* Macau

* Category
* Asia portal

* v
* t
* e

Philippines articles

History|

| Overviews|

* Archaeology
* Economy
* Military
* Political

|

Chronology|

* Prehistory
* Pre-colonial era
* Colonial era
* Spanish period
* American period
* Japanese occupation
* Postcolonial era
* Third Republic
* Marcos presidency
* Fifth Republic

Geography|

* Bays
* Biosphere reserves
* Borders
* Climate
* Climate change
* Typhoons
* Earthquakes
* Ecoregions
* Extreme points
* Island groups
* islands
* Lakes
* Mountains
* Protected areas
* National parks
* Ramsar sites
* Rivers
* Volcanoes
* Wildlife
* World Heritage Sites

Politics|

* Administrative divisions
* Constitution
* Elections
* Foreign relations
* Human rights
* LGBTQ
* Legal codes
* Political families
* Political parties

| Government|

* Executive
* Cabinet
* lists
* Executive departments
* Executive office
* Law enforcement
* President
* Legislative
* Senate
* House of Representatives
* Judicial
* Supreme Court
* Court of Appeals
* Regional Trial Court
* Armed Forces
* Air Force
* Army
* Navy
* Marine Corps
* Coast Guard

|

Economy|

* Agriculture
* Automotive
* Business process outsourcing
* Census
* Central bank
* Child labor
* Energy
* Fiscal policy
* National debt
* Labor
* Peso
* Science and technology
* Stock exchange
* Taxation
* Telecommunications
* Telephone numbers
* Tourism
* Tourist attractions
* Transportation
* Water and sanitation
* ZIP codes

Society|

* Abortion
* Censorship
* Corruption
* Crime
* Demographics
* Divorce
* Education
* Higher education
* Environmental issues
* Climate change
* Deforestation
* Ethnic groups
* Indigenous peoples
* Genetic and anthropology studies
* Health
* Human trafficking
* Sex trafficking
* Immigration
* Income inequality
* Kinship
* Languages
* Overseas workers
* Poverty
* Prostitution
* Refugees
* Religion
* Sexuality
* Squatting
* Women
* Pinoy

| Culture|

* Architecture
* Arts
* Cinema
* Cuisine
* Cultural properties
* Dance
* Fashion and clothing
* Historical markers
* Inventions
* Literature
* Media
* Music
* Mythology
* Name
* Public holidays
* Festivals
* Psychology
* Sports
* Traditional games
* Value system

|

Symbols|

* Anthem
* Bird
* Coat of arms
* Flag
* Flower
* Gem
* Great Seal
* Language
* Motto
* Sign language
* Sport and martial art
* Tree

* Outline
* Bibliography

* Philippines portal
* Category

*[v]: View this template
*[t]: Discuss this template
*[e]: Edit this template