MANILA – The Philippine Chamber of Commerce and Industry (PCCI) said the Duterte administration has provided a strong economic foundation for the next leadership.
In a statement Tuesday, PCCI president George Barcelon said the next administration will be faced with the same financial challenges that needed to be addressed.
These economic challenges were brought by the prolonged coronavirus disease 2019 (Covid-19) pandemic and the impacts of the conflict between Ukraine and Russia, he said.
“There will be blips in rating and downward trend, but we know better our macroeconomic fundamentals are intact and the economic reforms of President Rodrigo Duterte’s administration, kudos to Finance Sec. (Carlos) Sonny Dominguez who provided a sound take off point for (the) new administration,” the PCCI chief added.
Among the economic reforms passed during the Duterte administration include the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law, Ease of Doing Business and Efficient Government Service Delivery (EODB) law, as well as the amendments to the Retail Trade Liberalization Act, Foreign Investments Act, and the Public Service Act.
“Let's give the incoming administration time to draw up and share their plans in making our country more progressive,” Barcelon said.
He also called on Filipinos to remain optimistic for the country’s future.
The country’s largest business organization also thanked the Commission on Elections, National Citizens' Movement for Free Elections, Parish Pastoral Council for Responsible Voting, as well as teachers and volunteers that facilitated a “generally peaceful and credible” elections. (PNA)