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). 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.
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