BIZ BUZZ: Business group cheers on Sotto

Jose Luis Yulo Jr., former president of the Philippine Stock Exchange and current president of the Chamber of Commerce of the Philippine Islands, is elated that Sen. Vicente Sotto III is back as the new Senate President of the 20th Congress.

“Your return to this esteemed leadership role … underscores your enduring commitment and the confidence your colleagues have placed in your leadership,” said Yulo in a Sept. 9 letter.

Yulo added: “As the longest-serving senator in Philippine history, your wealth of experience and steadfast dedication continue to inspire new possibilities for our nation.”

The head of the country’s oldest business chamber also said he was looking forward to presenting to Sotto the group’s Economic Compass Pillars 5, which contains what it believes would help accelerate the country’s economic growth.

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It emphasizes, among others, the urgent need for “competent men and women” in government, particularly in these dark times.

Thus, Yulo expressed hope that the tenure of Sotto—who replaced Sen. Chiz Escudero on Sept. 8 amid the multiple probes into corruption-ridden flood control projects—would “be marked by unity, integrity and meaningful progress for all Filipinos.”