Biz groups: Cabinet changes to strengthen investments

MANILA, Philippines — Business groups and investment promotion agencies welcomed President Marcos’ new Cabinet appointments, saying the move is expected to help strengthen investor confidence.

Federation of Philippine Industries chairperson Elizabeth Lee said in a Viber message that the umbrella group of manufacturers in the country sees the appointment of finance secretary Ralph Recto as executive secretary and the designation of Special Assistant to the President for Investment and Economic Affairs Frederick Go as finance secretary as key to restoring confidence and stability amid corruption issues plaguing the country.

“These transitions come at a crucial time for policy coherence, fiscal stability and investor confidence,” she said.

Lee said Recto’s proven track record in fiscal management and governance will strengthen the Office of the Executive Secretary’s role in ensuring coherence across government policies.

She also said Go’s extensive experience in investment promotion and economic affairs would enable him to sustain momentum in fiscal stewardship and investor confidence.

The FPI also supports the appointment of Bureau of Internal Revenue commissioner Charlito Martin Mendoza, as his commitment to integrity and transparency is expected to help provide a predictable environment for businesses to grow and create jobs.

Philippine Chamber of Commerce and Industry (PCCI) president Enunina Mangio also welcomed the appointment of Recto and Go.

“The business community looks forward to working closely with both leaders in advancing reforms that enhance competitiveness, strengthen investor confidence and generate sustainable opportunities for Filipino enterprises,” Mangio said. — Alden Monzon, Artemio Dumlao