Philippines Revamps International Co-Production Fund With Minority and Majority Tracks, Unveiled at Busan Market

The Philippines has revamped its International Co-Production Fund (ICOF) around two tracks, with the amount of cash on offer tied to the size of the Filipino stake in a project.

The Film Philippines Office (FPO) unveiled the new framework at the Busan International Film Festival‘s Asian Contents & Film Market.

The Majority Track covers projects led by Filipino producers working with foreign partners. Features and series on this track can receive up to PHP13 million ($210,000), and documentaries and shorts up to PHP5 million ($80,000).

To qualify, the Filipino side must own at least 20% of the project and hold the largest share among the co-producers. Two Filipinos must fill above-the-line roles – director, actor or lead actor – and five more must work in key creative or technical crew positions. Applicants need a release strategy for both the home market and abroad. Foreign partners must take a minority stake and make a matching creative or technical contribution.

The Minority Track is for international productions in which a Filipino producer is the junior partner. Features and series can draw up to PHP7 million ($113,000), with documentaries and shorts capped at PHP3 million ($48,000).

The bar is lower here. Filipino producers need a stake of 10% or more, and the production must hire either two Filipino above-the-line talents or three Filipino crew members in key creative or technical roles. Applicants must also show how the film will reach audiences outside the Philippines.

Both tracks offer the same top-ups. Qualifying ASEAN co-productions earn an extra PHP1 million ($16,000), and projects that clear a cultural test can collect up to PHP2 million ($32,000) more. The FPO noted that the dollar figures may vary with exchange rates.

The FPO sits within the Film Development Council of the Philippines (FDCP), the national film agency that reports to the Office of the President. It runs the country’s incentives for international co-productions and for line and post-production work. It also provides endorsements for government permits and makes location referrals.

Several ICOF-backed films have won festival prizes. Tommy Ng Ka Chung’s “Another World” was co-produced by Filipino company Overmind Corp with partners in Hong Kong and Singapore, and won best animated feature at the 62nd Golden Horse Awards in November 2025. Janus Victoria’s “Diamonds in the Sand,” which has Japanese and Malaysian co-producers, took the Mulberry Award for best debut film at Udine’s Far East Film Festival.

Marianne Métivier’s “Elsewhere at Night” won best screenplay at the Torino Film Festival. James J. Robinson picked up best Australian director at the Melbourne International Film Festival for “First Light.” Mouly Surya’s “This City Is a Battlefield” won best cinematography at the Bandung Film Festival.

The FPO’s separate Film Location Incentive Program has backed two prizewinners. Rafael Manuel’s “Filipiñana” won a special jury award for creative vision in Sundance’s World Cinema Dramatic competition, and Morgan Knibbe’s “The Garden of Earthly Delights” won best film at Torino.