MANILA — Philippine President Ferdinand R. Marcos Jr. has reshuffled the leadership of four key government agencies involved in revenue collection and investment promotion, with less than two years remaining in his term. Malacañang defended the moves as necessary to improve agency performance, boost revenue collection and generate more jobs.

Palace Press Officer Clarissa A. Castro said at a news briefing on Friday that the shrinking calendar has not changed the President's goals. The 1987 Constitution limits Philippine presidents to a single six-year term without re-election; Mr. Marcos took office in 2022, putting the administration in its final stretch.

"Even if we say the President has less than two years left, he still wants all agencies to be in good order, more capable people appointed and faster work for our fellow Filipinos," Ms. Castro said.

Under the reshuffle, Ariel F. Nepomuceno moves from the Bureau of Customs to the Bases Conversion and Development Authority (BCDA), while Bureau of Internal Revenue (BIR) Commissioner Charlito Martin R. Mendoza takes over at Customs. Finance Undersecretary Rolando T. Ligon Jr. becomes BIR chief.

Separately, BCDA President and Chief Executive Officer Joshua "Jake" M. Bingcang will inherit the director-general post at the Philippine Economic Zone Authority (PEZA), while Tereso O. Panga will serve as executive director of the Toll Regulatory Board, Ms. Castro said.

The BIR and Customs are the government's two principal revenue agencies, collecting domestic taxes and duties on imported goods, respectively. On the investment side, the BCDA redevelops former military base lands, while PEZA administers the special economic zones that host much of the country's export-oriented manufacturing and account for a significant share of Philippine exports.

In a social media post, Mr. Panga said PEZA recorded P315.5 billion in approved investments during his three-year tenure as director-general.

"Under the Marcos administration, PEZA consistently met its annual investment targets, culminating in a historic P315.5 billion in approved investments as of November 10, 2026, surpassing the longstanding P311.9-billion record set in 2012," he said.

Mr. Marcos administered the oath of office to Mr. Nepomuceno, Mr. Mendoza and Mr. Ligon at the Palace on Friday.

Ms. Castro rejected suggestions that the transfers signaled lost confidence. "When the head of an agency is moved to another agency, it does not mean he has lost trust," she said.

The changes come as the BIR missed its revenue target for the first nine months of the year by P43 billion.

The Philippine Exporters Confederation, Inc. (PHILEXPORT) has warned that leadership changes at PEZA and the Bureau of Customs could derail reforms and shake investor confidence, and has urged the government to preserve continuity.

Ms. Castro said the changes would not keep the administration from pursuing its economic goals, and that transferring officials would not necessarily disrupt operations.

"This will not stop the administration from attaining its goal of growing the economy. That is why the President does not hesitate to seek out people to work with," she said.

"The leadership teams of the different agencies work together. They do not work on their own. So if one is replaced and moved to another position… it does not mean there will be a problem," she added.

Mr. Nepomuceno said he would prioritize serving businesses already operating in the country's economic zones and attracting more investors to generate jobs.

"We are aware that we only have less than two years to do the job," he told reporters at the Palace after his oath-taking ceremony. "We will make sure that the current locators and business groups in our industrial and commercial zones will be fully served."

Mr. Mendoza said his marching orders from the President are to curb smuggling and protect the country's borders while making legitimate trade easier for businesses and investors.

"First, we have to stop smuggling, we have to protect our borders," he said. "Second is ease of doing business, or facilitating legitimate trade, which is very important."

"When we combine these two, it will definitely result in higher revenue collection," he added.

Mr. Ligon, meanwhile, said his first directive from Mr. Marcos is to help taxpayers pay the correct amount of taxes.

"Those who refuse to pay taxes, we will go after them, and we will apply the full force of the law," he said, adding that tax collections would help fund government expenditures.

Cordoba Appointed to Supreme Court

Mr. Marcos also named Commission on Audit (CoA) Chairperson Gamaliel A. Cordoba, head of the constitutional body that audits government revenues and expenditures, as the 196th Associate Justice of the Supreme Court, Ms. Castro announced. He will succeed Associate Justice Amy C. Lazaro-Javier, who retires on Nov. 16.

At the CoA, Mr. Cordoba led fraud audits of flood control projects amid the infrastructure corruption scandal and submitted at least 50 fraud audit reports to the Office of the Ombudsman and the now-defunct Independent Commission for Infrastructure. He also institutionalized GPS-based geotagging of all government infrastructure projects nationwide, according to Ms. Castro.

Before joining the CoA, Mr. Cordoba served as a commissioner of the National Telecommunications Commission from 2009 to 2022. He earned his economics degree in 1992 and his law degree in 1996 from Ateneo de Manila University and passed the bar in 1997.

Malacañang has yet to name a successor at the CoA.

— Erika Mae P. Sinaking, BusinessWorld