Business groups to rally behind Aquino admin

Business groups in the Philippines have started to rally behind Benigno C. Aquino, the leading presidential candidate in the May 10 elections III, and other frontrunners in the continuing tally of the poll results. Business leaders, Filipinos and foreign, have expressed their eagerness to work with the incoming administration. The country’s much needed economic reforms now hinge on the quality of the Cabinet appointees and whether the new leaders in Malacañang and Congress would be able to work in harmony for the sake of the nation, industry leaders said in interviews. "The business community welcomes who the people have chosen. We will work with whomever the people chose. We have to rally behind [Mr. Aquino]," Philippine Chamber of Commerce and Industry (PCCI) president Francis C. Chua said. Aquino’s wide margin is boosting market sentiment, and "takes a lot of [the uncertainties] away", according to Alberto A. Lim, executive director of the Makati Business Club Executive. While Aquino – popularly known by the nickname, Noynoy – was pictured by his political rivals and critics as inexperienced, business leaders now consider such pre-May 10 politicking over. They are now more focused on the people he would be appointing to govern the country. "We are waiting to see who is on his team. That will set the tone for his government," Robert M. Sears, executive director of the American Chamber of Commerce of the Philippines, said. His sentiment echoed those of other business leaders. At this point, a strong mandate could prove more valuable – than experience – for Noynoy, said Sergio R. Ortiz-Luis Jr., president of the Philippine Exporters Confederation. The new administration would, anyway, inherit a relatively healthier economy at least in its first year, Ortiz-Luis said. Chua agreed that "We should not have too much [of a] problem as far as the economy is concerned. The new administration will just have to sustain the momentum." Business leaders are more concerned about how the executive and legislative branches would interact. "It is mixed right now. There is no clear showing that [Aquino] will have control over Congress. It will be a problem that will have to be faced by the new president, how to get cooperation," Ortiz-Luis said. "What’s important is [that] they work as a team," Edgardo G. Lacson, president of the Employers Confederation of the Philippines, said. In the meantime, reforms, long-sought by the business community, would have to be championed by "a strong executive," Lim said. Businessmen would like see lower and more affordable power costs, support for the Arroyo administration’s infrastructure programs, and strong initiatives to balance the budget, according to the PCCI’s draft agenda for the president’s first 100 days in office that Chua shared during the interview. Still, business leaders are generally satisfied with the candidates who are poised to take seats in Congress. "We have people with experience there," according to Sears. The new batch of congressmen is looking to be "fine," Schumacher said. "We should not have any problem working with the new leaders," said Chua. - GMANews.TV