Your foreign nursing degree will not be recognized here in the Philippines. However, you can have the Commission on Higher Education and the Philippine Board of Nursing take a look at your credentials.
I am a US educated and licensed nurse with some work experience in the ICU of a level 2 trauma hospital in the US. I went to CHEd with the hopes of getting licensed here. After submitting all my paperwork, I called often but got the answer "it's still being processed." After a year, I was told that they had evaluated my transcript and had turned it over to the Board of Nursing for review. They said I lacked some credit hours and needed to go back to school and fulfill it. When I asked what the classes were that I needed to take, their answer was, "it will be up to the school to decide on that." (Umm... You're with the Board of Nursing and should be able to answer that question....right?) I also needed to fulfill the other requirements listed (5 cord cuttings, 5 scrub nurse sessions, etc) before I could take the exam. No waiver, no nothing which clearly stated that my work experience wasn't even considered.
Needless to say, I didn't push forward with that. Their actions weren't all that encouraging and I was given the impression that I was a burden and that they just wanted me to go away.
If you wish to push through with getting your Philippine nursing license, I wish you all the luck.