Statements

Business Groups Statement on Julian Felipe Reef Issue

Julian Felipe Reef is historically and by law undisputed Philippines territory, as was most clearly established in the 2016 ruling based on the U.N. Convention on the Law of the Seas. Our exclusive right over the Julian Felipe Reef carries with it the utilization of, and the obligation to protect, its economic benefits, such as its rich marine life and mineral deposits, for the well-being of each and every Filipino.

Joint Statement on Cyber Security in the Financial System

The shift of the public to the online platform for financial transactions grew in popularity because of modern technology and was further accelerated by the COVID-19 pandemic.

Unfortunately, this shift gave rise to heightened activity by cyber criminals. As reported by Cybersecurity Ventures, the impact of cybercrime is expected to reach US$6 trillion in 2021 and rise to US$10.5 trillion annually by 2025.