Philippine business groups have banded together to express continued confidence in the domestic economy amid ongoing political turmoil.
In a joint statement, the country’s largest business organizations — the Financial Executives Institute of the Philippines (FINEX), Institute of Corporate Directors (ICD), Makati Business Club (MBC), Management Association of the Philippines (MAP), Philippine Chamber of Commerce and Industry (PCCI), and Philippine Finance Association (PFA) — voiced support for the economy as the administration of President Ferdinand Marcos Jr. announced major changes in key Cabinet posts. The reshuffle followed the voluntary resignation of the Executive Secretary and the Budget and Management chief out of “delicadeza” amid corruption allegations in government.
“While the current political turmoil raises understandable concerns, we stress that the country’s long-term fundamentals remain strong; anchored by a well-regulated financial system, a stable banking sector, and companies that continue to invest in and believe in the Philippines,” the groups said.
They emphasized that institutions safeguarding financial markets continue to function independently and rigorously. The Bangko Sentral ng Pilipinas and the Securities and Exchange Commission, they noted, uphold regulatory frameworks aligned with global standards — ensuring market integrity, prudent risk management, and strong investor protections. The Philippines continues to meet international benchmarks on capital adequacy, disclosure requirements, and corporate governance.
The statement also pointed to the strength of Philippine corporate earnings. “Even during periods of global instability, from the Global Financial Crisis to the COVID-19 pandemic, publicly listed companies demonstrated resilience, with growing revenues, stable margins, and rebounding strongly as conditions normalized,” it added.
Private-sector investment remains another pillar of stability. Over the past decade, gross fixed capital formation has consistently ranged between 22 percent and 27 percent of GDP, with total investment surpassing PHP6 trillion in 2024. This sustained level of capital spending — largely driven by business expansion — underscores the private sector’s continued commitment to building capacity and pursuing long-term growth.
The groups also acknowledged that investor confidence depends not only on economic fundamentals but also on governance. They urged public institutions to ensure policy stability, uphold the rule of law, and act swiftly and decisively against corruption. Clear guidance, consistent enforcement, and transparent decision-making, they said, are essential to sustaining growth and maintaining the trust of both domestic and foreign investors.
“As business organizations, we reaffirm our commitment to responsible leadership, ethical practices, and constructive engagement with government. We will continue investing, creating jobs, expanding industries, and strengthening our economy’s productive capacity. In a time of increased uncertainty, our message is clear: the private sector remains united in its belief in the Philippines’ long-term potential,” the statement concluded.
