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Press Statements

MBC Statement on the Results of the 2015-2016 World Economic Forum Global Competitiveness Report

The Makati Business Club welcomes the results of the 2015-2016 World Economic Forum (WEF) Global Competitiveness Report, wherein the Philippines now ranks 47th out of 140 economies, up from 52nd last year. Since 2010, the Philippines has risen by 38 places, making the country among the world’s most improved economies during the period.  With this achievement, the Philippines has come much closer to its goal of being in the top third of the global rankings. Congratulations are in order for all government agencies that have tangibly contributed to this milestone.

Placing the rankings in perspective, the Philippines placed fifth out of nine included Southeast Asian countries in the survey. Worth highlighting is that while Vietnam ranks 68th overall and sixth in ASEAN, it is steadily gaining on the ASEAN-5, garnering the highest jump among Southeast Asian countries with a 12-place improvement. Meanwhile, the Philippines ranks 16th out of the 19 covered APEC economies. These should provide the impetus to rapidly enact the needed reforms to sustain our momentum.

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Press Statements

Comment of MBC Chairman Ramon R. del Rosario Jr. on the Philippines’ Second Quarter 2015 GDP Growth

27 August 2015 – The second quarter GDP growth of 5.6% is in the range of most economists’ projections. It was realized in spite of weak performance in agriculture and exports and was spurred by welcome investments in public spending. It is hoped that continued healthy public spending, especially in the context of the coming 2016 elections and stronger holiday spending and OFW remittances, will give our economy enough of a boost to offset the effects of a severe El Niño and the economic weakness of major countries to still allow us to achieve a full year growth of 6% to 6.5%


Second Semester 2015 MBC EOS: Business recognizes improvement in 31 agencies; BSP, PEZA, DOT remain top 3

13 August 2015 – The Bangko Sentral ng Pilipinas, Philippine Economic Zone Authority, and the Department of Tourism maintain their hold as the top government agencies which received positive net satisfaction scores from senior business executives surveyed by the Makati Business Club from 6 July to 7 August 2015. Joining the BSP, PEZA, and DOT in the top 5 are the Department of Foreign Affairs and PAGASA (tied for 4th).

Rounding up the top 10 best performing agencies are the Department of Finance, Department of Trade and Industry, Securities and Exchange Commission, Board of Investments, and the Civil Service Commission.

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Press Statements

MBC Statement on the Developments at the Makati City Hall

1 July 2015 – The Makati Business Club expresses its concern at the developments that continue to unfold at the Makati City Hall. While we recognize that the mayor has decided to leave city hall as ordered by the Office of the Ombudsman, we note that it took a significant period, two orders from the Ombudsman, and instances of near-violence between the mayor’s supporters and law enforcement officers before the mayor made his decision, when such an order was immediately executory.

MBC believes that no one should be above the law—and the demand to respect the rule of law is more heavily levied on elected public servants. Indeed, affected officials are free to avail themselves of all remedies provided under our system. However, they must ultimately and immediately submit themselves to the demands of the law at the first instance an order is given.

The developments at the Makati City Hall clearly illustrate the costs of defying a suspension order, which has almost become common practice of officials facing cases from the proper authorities. As part of our democratic processes to address possible wrongdoing, suspension is not a punishment, nor does respecting a suspension order mean an admission of guilt. In this instance, the defiance of the suspension order up until the mayor’s decision to ultimately vacate city hall has created an environment of uncertainty and instability in the country’s financial center. Such a situation is unnecessary and is counterproductive, especially at a time when the economy is steadily growing and that there is renewed investor interest in the Philippines.

Now that the case is in the judiciary, it is our hope that the courts will render a fair decision swiftly and in accordance to its merits.