Government-owned and controlled corporation

In the Philippines, a government-owned and controlled corporation (GOCC), 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 Government-Owned or Controlled Corporations (GCG).^[3] The Governance Commission is the "government's central advisory and oversight body over the public corporate sector" according to the Official Gazette of the Philippine government.^[4] The Governance Commission 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]