Remembering RVO

It’s been two years since the death of tycoon Roberto V. Ongpin or RVO, who died in 2023, cradled in the arms of his beloved Balesin.

On Wednesday, Feb. 5, there was a memorial mass commemorating his second death anniversary at Alphaland Makati Place which, just like Balesin, is among his well-loved projects.

Unfortunately, I was out of town that day so I missed the event. I am usually away on Feb. 5 because that day happens to be a loved one’s birthday. In fact, when I heard the news of his death that cold February morning in 2023, I was in Baguio, supposedly celebrating a happy time. But I remembered being really stunned and sad when I heard the news of his passing that early morning. That moment, Baguio’s weather just became colder. RVO, to me, was not just a good and brilliant source but a friend with a great sense of humor.

Last week, I was in Cavite and could not be there for his mass. RVO would not have taken no for an answer. I imagine him, pestering me from the grave with his stern voice: “Hey, come back to Manila now and attend my memorial mass!”

That’s RVO. He was personal like that. He would call people or write to us himself when he wanted to share something or needed something. Or sometimes, he simply wanted to invite us over to share some of his finest drinks or good food and talk about the crazy political environment in our country.

He knew a lot about the country and played a big role in our society during nearly every pivotal chapter – from Marcos Sr. to Marcos Jr.

Before he died, he wrote his memoirs, but as he told me before, it would only be published after he had kicked the bucket and perhaps, when some people he wrote about had too. Let’s wait and see.

I may have missed his memorial mass but RVO is always in my thoughts and prayers. When our political environment gets crazier, I often wonder what he would have said. Just like now, would he have supported the impeachment of Vice President Sara Duterte? Or would he have tried to stop it? He had friends in Congress. Would he have persuaded them to do this or that? What would he say to his friend –(or protégé?) Senate President Chiz Escudero?

RVO was a quiet power player, even without trying. He was a man who knew his worth.

At some point, as Marcos Sr.’s trade minister, he had a good vision for the country, identifying local industries we needed to develop. Had RVO’s vision come to life, we would be first world now and better equipped to face today’s trade challenges. Cronyism and politics, sadly, got in the way.

His Binondo Central Bank helped save the economy at a crucial time. His businesses, now helmed by his nephew Eric Recto, remain an important part of the country’s business landscape.

RVO, “unretirable” as he was, would have wanted to do more.

But he did what he could during his time on earth, and boy, did he enjoy it, too. His legacy lives on and will not be forgotten.

Populist

Speaking of Congress, traders are urging our lawmakers to reconsider the proposed P200 daily wage hike.

Businessmen from the Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) said that while they recognize the need for meaningful wage adjustments to help workers cope with rising costs of living, they also hope that the proposal considers the welfare of businesses and the economy as a whole.

Instead of a legislated wage hike, wage-setting should consider regional conditions, FFCCCII said.

“Rather than a blanket nationwide wage increase, wage-setting should consider regional economic conditions. The cost of living varies significantly across the country, and a uniform P200 hike may disproportionately affect businesses in lower-cost regions, leading to closures and job losses.

“Regional Tripartite Wages and Productivity Boards composed of labor, business and government representatives are in the best position to determine fair and sustainable wage adjustments based on local realities,” according to FFCCCII president Dr. Cecilio Pedro.

Economic realities

I also talked to other businesses, especially the smaller ones, and they, too, raised concerns on a legislated wage increase.

“At a time of global economic volatility and high borrowing costs, imposing a drastic wage hike could worsen economic conditions. A P200 increase could trigger higher prices, job cuts or business closures – hitting hardest the 84 percent of workers in the informal sector.

“If wages rise too high unilaterally and too drastically, we, the businesses here in the Philippines, might lose our global competitiveness... More MSMEs might suffer and many workers may even face retrenchment.”

Progressive lawmakers will dismiss this as selfish business interests but our present-day realities would show that indeed, small businesses will definitely be hurt from a P200 daily wage hike.

This isn’t surprising though, given that it’s election season and our lawmakers tend to embrace populist moves.

An increase in wages is surely justified but the amount must take into consideration all stakeholders.

The FFCCCII said there must be a balance in safeguarding workers’ welfare and business viability.

“As our 70th anniversary slogan states: ‘Dugong Tsino, Pusong Pinoy’ – we seek to uplift workers’ lives while safeguarding business viability and Philippine economic resilience.”

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Email: [email protected]. Follow her on Twitter @eyesgonzales. Column archives at EyesWideOpen on FB.