The Philippine Chamber of Commerce and Industry (PCCI) and the Federation of Philippine Industries (FPI) remain optimistic that the recent reshuffle in key government positions will help promote economic stability, strengthen confidence and growth, amidst serious allegations of massive corruption involving government officials.
In separate statements, PCCI President Enunina V. Mangio and FPI Chairperson Elizabeth H. Lee welcomed the appointment of Finance Secretary Ralph Recto as the new Executive Secretary and Secretary Frederick Go as the new Finance Chief.
“We commend President Marcos for these key selections, which come at a critical time for our economy. Executive Secretary Recto brings a wealth of legislative and policy expertise, while Secretary Go’s strong background in business and investment promotion will be valuable in steering fiscal policy and driving economic growth,” Mangio said.
She stressed that the business community is hopeful that the changes in the Cabinet will lead to renewed public trust, economic stability and generate investors interests.
“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,” she added.
Mangio said that Recto’s proven track record in fiscal management and Go’s experience in investment promotion are encouraging signals for both domestic and foreign investors, adding that PCCI has maintained a good working relationship with Go, particularly on investment promotion and policy.
“We urge our government to swiftly address this political instability and hold those involved in corruption accountable. This is one way of restoring investors trust and confidence in us (Philippines),” the PCCI chief said.
Moreover, the PCCI vowed to continue supporting the government in building a more resilient, transparent, and dynamic economic environment for all.
For its part, the FPI Chairperson Lee said the movement in Cabinet transitions come at a crucial time for policy coherence, fiscal stability, and investor confidence. “FPI affirms its support for continuity and coordination across government agencies to sustain economic momentum,” said Lee.
Secretary 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. Meanwhile, Secretary Go’s extensive experience in investment promotion and economic affairs positions him well to sustain momentum in fiscal stewardship and investor confidence.
FPI also extends its full support to newly appointed Bureau of Internal Revenue (BIR) Commissioner Charlito Martin Mendoza. Commissioner Mendoza, formerly Undersecretary of the Department of Finance overseeing the Revenue Operations Group, brings both legal and operational expertise from his leadership roles at DOF and the Bureau of Customs. His appointment underscores a commitment to integrity and transparency at the BIR—foundations essential to fair enforcement, modernization, and the predictable environment that businesses need to grow and create jobs.
“FPI stands ready to collaborate with the economic team and the BIR under Commissioner Mendoza to advance transparent policy, digitalization, and fair compliance. These pillars are vital to restoring business confidence, driving enterprise growth, and building a resilient economy. FPI remains committed to constructive engagement that supports inclusive industrial development and strengthens public trust,” said Lee.
