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Manila Bulletin devider Philippines devider National devider Marcos, Jr.'s economic team should inspire local, foreign businesses—Escudero

Marcos, Jr.'s economic team should inspire local, foreign businesses—Escudero

Published May 27, 2022 04:11 pm

Senator-elect and Sorsogon Governor Francis “Chiz” Escudero on Friday said the incoming economic team of the Marcos administration should spur local and foreign businesses to put their trust in the government’s ability to provide growth and stability even in the midst of the Covid-19 pandemic.

Escudero made this assessment after President-elect Ferdinand Marcos, Jr. introduced his upcoming economic team, saying his selection of Cabinet officials in key departments augur well for the business sector and the international community.

“All are known and competent in their respective fields and President-elect Marcos’ economic team should inspire confidence from the business sector and the international community,” said Escudero, who chaired the Senate Committee on Finance in the 16th Congress.

“The appointments send a strong message as a whole that our country is headed in the right direction and will sustain the stability and growth of our economy,” he stressed.

Marcos, Jr. has nominated Bangko Sentral ng Pilipinas (BSP) Gov. Benjamin Diokno as secretary of the Department of Finance (DOF), former University of the Philippines (UP) president Alfred Pascual as trade and industry secretary, Monetary Board member Felipe Medalla as successor of Diokno at the BSP, and former Socio-economic Planning Sec. Arsenio Balisacan as head of the National Economic and Development Authority (NEDA).

Escudero said Marcos, Jr.’s decision to tap Balisacan, who once led under the administration of the late President Benigno “Noynoy” Aquino III, was a “move in the right direction.”

Aside from the four, Marcos Jr. also appointed the following as members of his official family: Vice President-elect Sara Duterte-Carpio, Department of Education (DepEd); Manuel M. Bonoan, Department of Public Works and Highways (DPWH); Bienvenido E. Laguesma, Department of Labor and Employment (DOLE); Susan “Toots” Ople, Department of Migrant Workers (DOMW); and lawyer Trixie Cruz-Angeles, Press Secretary and Presidential Communications Operations Office (PCOO) head.

According to Escudero, there should be no problem with the Commission on Appointments (CA) once their names are submitted for confirmation if there are no “strong and valid issues” against their nominations.

“The President should have a wide enough latitude in choosing his Cabinet and team that will implement his plans, programs and vision for our country and people,” Escudero said.

“Absent any strong and valid issues that may be brought out and proven against his nominee, there should be no problems getting CA nod,” he also said.

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