The Market Monitor Minding the Nation's Business
by Boy Villasanta
It’s official.
Internationally acclaimed director Lav Diaz’s historical film on the expedition of Portuguese Ferdinand Magellan in the Philippines is the country’s entry to the Best International Feature Film section of the 2026 Oscar Awards in Hollywood.
This was announced last night by Paolo Villaluna, Director-General of the Film Academy of the Philippines (FAP).
Villaluna said that the film of Diaz was carefully chosen from among equally deserving movies the country has produced and shown commercially in theaters from the submitting nation.
Jose Javier Reyes, meanwhile, is happy to announced that the Film Development Council of the Philippines (FDCP), one of the film agencies of the country, for which he is the Chairman and Chief Executive Officer (CEO), is financially supporting in the promotional campaign of the film.
FDCP has handed a one million peso-worth of check to Diaz.
The Best International Feature Film is an annual award given to a film with a non-English speaking language.
“Magellan” will contend with other entries from other nations through votation from qualified voting members of the Academy before it is nominated for the category.
“Magellan” was screened at the 78th Cannes International Film Festival in France.
It was also shown at the 2025 Toronto International Film Festiva in Canada.