[1] He established the Sociedad Económica de los Amigos del País, or the Economic Society of Friends of the Country, which revived the tobacco industry in the Spanish Philippines.

He established the basis for the massive growth of Philippine agricultural export, with a policy of tolerance toward (theoretically) illegal activity of foreign retailers, mainly the English and North Americans, who went to Manila to complete their product shipments.

He also made the colony independent by freeing it from the control of New Spain and other Pacific Islands including the Philippines.

[2] In 1782, Basco sent an expedition to conduct the formalities of acquiring the Ivatans' consent to become subjects of the king of Spain.

By January 21, 1789, King Carlos III granted in prize to his numerous services the title of Count of Conquista of the Batanes Islands; grace to which he added to the appointments of Squad leader and Governor of Cartagena.