Statements

18 January 2017 – The Philippine Business Group and Joint Foreign Chambers, a coalition of local and foreign business groups, support the Department of Finance’s position to fully implement the “Sin Tax Reform Act” or R.A. 10351 passed in 2012. This includes Section 11 of the said Act, which mandates the Congressional Oversight Committee to review the impact of the tax rates beginning the third quarter of calendar year 2016.

The Makati Business Club recognizes the outstanding work of Mr. Amando Tetangco Jr. as the Governor of the Bangko Sentral ng Pilipinas since 2005. Under his leadership, the BSP has been effectively executing and fulfilling its mandate of keeping inflation manageable, conducting sound monetary policy, and supervising financial institutions under its jurisdiction. This has significantly cushioned the country from external shocks and has largely insulated us from the adverse effects of recent global and regional financial crises.

8 November – The Makati Business Club Board of Trustees today announced the election of Edgar O. Chua, Chairman of the Pilipinas Shell Petroleum Corporation, as the new chairman of MBC. Mr. Chua succeeds Mr. Ramon R. Del Rosario Jr., president and CEO of Phinma, Inc.

25 October – The Makati Business Club welcomes the administration’s push to revitalize the country’s relationship with China. Given China’s stature as a major player in global affairs, and the Philippines’ steady economic rise, both our countries stand to benefit from renewed and much closer ties, particularly in trade and investment. China’s expertise in infrastructure will be critical to the Philippines’ development, as we seek to close the massive infrastructure gap that has been suppressing the country’s growth for the past years.