Makati Business Club hopes Marcos will keep economic team intact

This is AI generated summarization, which may have errors. For context, always refer to the full article.

The Makati Business Club and Management Association of the Philippines believe that the President Ferdinand Marcos Jr.'s call for his Cabinet secretaries' courtesy resignations underscore the importance of good governance and delivering results

MANILA, Philippines – The Makati Business Club (MBC) is hoping that President Ferdinand Marcos Jr. will keep his economic team intact, following his call for Cabinet officials to submit their courtesy resignations on Thursday, May 22.

MBC chairman Edgar Chua told reporters at a press conference on Thursday, that they maintained their faith in the current economic team, citing the Marcos administration’s openness to collaborate with the private sector.

“If all of them or many of them will be replaced, it will be disruptive. So we are hoping that the President will be able to retain the really good ones. And their performance will speak for themselves,” he said.

The MBC is not anticipating a major Cabinet reshuffle, expecting just one or two secretaries replaced.

Business groups in the country believe Marcos’ move to review his Cabinet’s performance underscores the importance of good governance and driving meaningful results.

Regardless of what changes will be made to the Cabinet, the MBC hopes the government will continue to encourage private sector participation, close the socioeconomic gap among Filipinos, and promote good governance.

Driving progress, delivering results

The Management Association of the Philippines (MAP) drew parallels between Marcos’ directive and similar moves done in the private sector.

“Difficult as it may be, the call of leadership is to make such hard decisions in the interest of establishing meritocracy and encouraging performance,” MAP president Al Panlilio said in a statement.

Whoever Marcos may decide to replace, Panlilio hopes the future Cabinet secretaries will be people who can effectively execute the government’s plans.

“We trust that capable, proactive, and committed individuals will be empowered and work together as a cohesive team to execute the nation’s plans to uplift the lives of all Filipinos and move us closer to the outcomes people deserve,” he said.

Meanwhile, MBC trustee Ramon del Rosario Jr. also hopes that the government would take the national budget more seriously as he believes the 2025 version neglects crucial sectors such as health and education.

“What happened was the diversion took away funds from very high priority projects of this administration itself and went into things like ayuda (aid) and flood control projects, etc. which we know are really used for political purposes,” he said.

Marcos earlier called for his Cabinet secretaries’ courtesy resignations to “recalibrate” his administration following the 2025 midterm elections.

According to a Pulse Asia survey conducted in April, the majority of Filipinos disapproved of how Marcos was handling national issues such as inflation, reducing poverty, and increasing workers’ pay. – Rappler.com