Corruption scandal sours PH CEOs’ outlook

(L-R) PwC Philippines Vice Chair and Assurance Managing Partner Aldie Garcia, Management Association of the Philippines (MAP) Trade, Investments and Tourism Committee Chair Donald Patrick Lim, PwC Philippines Chair and Senior Partner Roderick Danao, PwC Philippines Deals and Corporate Finance Managing Partner Mary Jade Roxas-Divinagracia and PwC Philippines Deals and Corporate Finance Partner Trissy Rogacion. —JORDEENE B. LAGARE

The country’s chief executive officers have become less optimistic about their industry’s prospects over the next 12 months, citing the government’s ongoing battle against corruption as a major concern.

A study by Isla Lipana & Co./PwC Philippines, in collaboration with the Management Association of the Philippines (MAP), revealed that 83 percent of CEOs were still confident about the industry’s outlook over the next year, but it was a slight decrease from 86 percent the previous year.

“It’s not a significant decline. In general, like how we dissect it, all of the sectors are growing, but then the results of external factors are faster now,” Trissy Rogacion, PwC Philippines’ Deals and Corporate Finance Partner, said during the Philippine CEO Survey 2025 Media Briefing held on Monday.

Rogacion said business executives were generally positive about their respective operations and industries but their optimism can be quickly affected by various events here and abroad.

“Before, there’s a lag effect. But now, the impact is faster. That’s why we need to really have a very responsive government,” Rogacion said.

Results of the survey revealed that 31 percent of the CEOs were very confident, 52 percent were somewhat confident, 17 percent were not very confident and the remaining 1 percent was not confident at all.

CEOs rated the government’s performance in different aspects, with fighting corruption garnering the lowest rating of 9 percent compared with last year’s 10 percent.

Other areas scored higher, although lower than a year ago: managing interest rates (53 percent), forging stronger relationships with other nations (65 percent) and pushing for infrastructure (69 percent).

Inflation

Managing inflation was the only item in the survey that obtained a higher rating at 70 percent.

PwC Philippines Chairman and Senior Partner Roderick Danao said the Sumbong sa Pangulo platform, which received over 12,000 complaints since its inception was a “game changer.”

However, Danao said the next step was for the government “to show serious enforcement and legal actions to set the tone moving forward for the sake of our country.”

“The next step now is what does the government do? And we are watching what the government plans for the future,” he added.

Some 175 Philippine-based CEOs responded to this year’s survey, with 67 percent of the respondents coming from large businesses. The study was conducted from July 22 to Aug. 25.