Business groups bullish over Recto appointment as Finance chief

Business groups bullish over Recto appointment as Finance chief

MANILA, Philippines: Business groups are bullish over the appointment of House of Representatives’ Deputy Speaker and Batangas Sixth District Rep. Ralph Recto as the new Finance chief, saying that he is “capable of the job.”

“Senator Recto is perfectly suited for the job. He has the experience, expertise and political backing that are critical if he is to oversee the strengthening of the country’s economic and fiscal positions,” Philippine Chamber of Commerce and Industry (PCCI) President Eunina Mangio said in a statement.

Mangio also hopes that Recto will continue to push for policies and reforms that are supportive of the growth of businesses and to ensure that the country’s economic gains are sustained.

She added that PCCI will remain to become an “active partner of the Finance department in various initiatives, including the comprehensive tax reform program and improving the tax regime.”

“We look forward to continuing working and collaborating with the government to drive our economy forward,” she added.

Mangio lauded the outgoing Finance Secretary Benjamin Diokno for “doing an exemplary job of leading the Department of Finance.”

Florian Gottein, executive director of the European Chamber of Commerce of the Philippines (ECCP), said that Recto’s leadership would be “pivotal” in steering the nation toward greater economic resilience and attractive foreign investments.

“House Deputy Speaker Ralph Recto [is] also marked with wealth of experience and dedication to public service… The ECCP looks forward to collaborative efforts with Secretary Recto in advancing economic reforms, promoting sound fiscal policies, and fostering an environment conducive to sustainable business growth,” he added.

Chris Nelson, the executive director of the British Chamber of Commerce of the Philippines (BCCP), said that Recto would be a “valuable addition to the economic team of the country.”

“He is highly capable and I think he will be an additional boost [of the country’s economy],” he added.

Ebb Hinchliffe, the executive director of the American Chamber of Commerce, said that he was looking forward to working with Recto as his “extensive experience is critical” for the country’s fiscal and economic reforms.

“We look forward to working with him as he steps into this new critical role, particularly as the government looks to pursue fiscal and economic reforms that will impact the private sector,” Hinchliffe said.