MANILA, Philippines: Business groups in the Philippines are expressing optimism over the recent appointment of House of Representatives’ Deputy Speaker and Batangas Sixth District Rep. Ralph Recto as the new Finance chief. They believe that Recto’s capabilities make him the perfect fit for the job, citing his experience, expertise, and political backing as crucial factors in overseeing the strengthening of the country’s economic and fiscal positions.
In a statement, Philippine Chamber of Commerce and Industry (PCCI) President Eunina Mangio expressed her confidence in Recto’s ability to lead the Finance department. She emphasized the importance of his continued support for policies and reforms that foster business growth and sustain the country’s economic gains. Mangio also highlighted the PCCI’s commitment to being an active partner of the Finance department, particularly in initiatives such as the comprehensive tax reform program and improving the tax regime.
Florian Gottein, executive director of the European Chamber of Commerce of the Philippines (ECCP), echoed the positive sentiment, stating that Recto’s leadership would be pivotal in steering the nation towards greater economic resilience and attracting foreign investments. Gottein commended Recto’s wealth of experience and dedication to public service, expressing the ECCP’s eagerness to collaborate with him in advancing economic reforms, promoting sound fiscal policies, and fostering an environment conducive to sustainable business growth.
Chris Nelson, the executive director of the British Chamber of Commerce of the Philippines (BCCP), also welcomed Recto’s appointment, considering him a valuable addition to the country’s economic team. Nelson praised Recto’s capabilities and predicted that he would provide an additional boost to the country’s economy.
Similarly, Ebb Hinchliffe, the executive director of the American Chamber of Commerce, expressed his anticipation of working with Recto, emphasizing the critical importance of his extensive experience for the country’s fiscal and economic reforms. Hinchliffe acknowledged the government’s pursuit of fiscal and economic reforms that would impact the private sector and looked forward to collaborating with Recto in this new critical role.
The positive reception from various business groups highlights the confidence in Ralph Recto’s ability to lead the Finance department. His appointment is seen as a significant step towards strengthening the country’s economic and fiscal positions. With his experience, expertise, and political backing, Recto is well-equipped to drive economic growth, attract foreign investments, and implement reforms that support sustainable business development.
As Recto assumes his new role, the collaboration between the government and business groups will be crucial in driving the economy forward. The PCCI, ECCP, BCCP, and American Chamber of Commerce all expressed their commitment to working closely with Recto and the Finance department. Together, they aim to advance economic reforms, promote sound fiscal policies, and create an environment conducive to sustainable business growth.
The appointment of Ralph Recto as the new Finance chief has generated optimism and confidence within the business community. It signifies a collective belief that Recto’s leadership will contribute to the country’s economic resilience and attract foreign investments. As Recto steps into this critical role, his extensive experience and dedication to public service will play a vital role in shaping fiscal and economic reforms that will benefit both the government and the private sector.
Overall, the positive response from business groups underscores the importance of effective leadership in driving economic growth and stability. With Recto’s appointment, there is a renewed sense of optimism for the future of the Philippines’ economy, as well as the potential for increased collaboration between the government and the business community to achieve shared goals.
Source: The Manila Times
