Business groups vow to keep investing in PH
Six major business groups have reiterated their support for the Philippines’ long-term growth prospects but stressed that corruption must be addressed swiftly to preserve investor confidence.
“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 in a joint statement on Monday night.
The statement was signed by the Makati Business Club, Management Association of the Philippines, Philippine Chamber of Commerce and Industry (PCCI), Philippine Finance Association, Financial Executives Institute of the Philippines and the Institute of Corporate Directors.
It came amid a difficult month for the Philippine economy—gross domestic product (GDP) growth slowed to its weakest pace in four years during the third quarter, the stock market fell to a five-year low, and the peso slid to its lowest level on record.
Investment
Despite the grim indicators, the groups said investor confidence in the Philippines’ long-term prospects remained intact.
They noted that agencies such as the Bangko Sentral ng Pilipinas and the Securities and Exchange Commission continue to uphold global standards that promote “strong investor protections.”
They also cited strong private sector investment, which has consistently ranged between 22 percent and 27 percent of the GDP.
Total investment in 2024 exceeded P6 trillion, which they described as a sign that companies remain committed to expanding capacity and building in the country.
“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 groups said.
Transparency
The groups also acknowledged the impact of the corruption scandal that has rattled markets and stalled government spending.
Irregularities in flood control projects have contributed to the economic slowdown, while allegations that President Marcos and former Speaker Martin Romualdez ordered P100 billion in budget insertions for 2025 have intensified public concern.
“We therefore urge public institutions to ensure policy stability, uphold the rule of law, and address corruption quickly and decisively,” they said. “Clear guidance, consistent enforcement, and transparent decision-making are crucial to maintaining growth momentum and gaining the trust of both domestic and foreign investors.”
In a separate message, PCCI president Enunina Mangio expressed hope that the government would heed the calls for accountability.
“For us in the business sector, stability and trust in institutions are crucial, so we hope these sentiments are taken constructively and lead to steps that restore confidence and support economic recovery,” she added.
