THE business community has remained focused on trade and investment opportunities despite recent political developments, Trade Secretary Ma. Cristina Roque said.
Speaking to reporters, Roque said conversations with the private sector under the Department of Trade and Industry’s (DTI) purview continue to center on expanding trade, attracting investments and exploring new business opportunities.
‘I haven’t spoken to them about the politics,’ Roque said when asked about the business sector’s perception of recent political events. ‘Business as usual.’
Pressed on whether the business community appeared unfazed by the political noise, the trade chief said such issues have not been raised in her engagements with investors and trade partners.
‘We haven’t spoken about that. It’s just to move forward,’ she said.
Asked whether business groups had expressed concerns about the political situation, Roque replied: ‘Well, not at our level, at least. Since we’re focused on trade, they just want to increase trade and find other opportunities.’
Her remarks come as some economists and business observers have warned that prolonged political uncertainty could weigh on economic prospects.
Last week, former Bangko Sentral (BSP) deputy governor Diwa Guinigundo said in a commentary that the Philippine economy could become the ‘largest collateral damage’ from the political tensions that have gripped the Senate in recent weeks.
Guinigundo also argued that sustained political instability could eventually affect investor confidence and the country’s long-term economic viability.
Roque, however, indicated that discussions involving the DTI and its stakeholders remain focused on economic activity, trade promotion and investment generation.
The trade chief has recently been involved in talks with foreign governments and business groups aimed at expanding market access, attracting investments and strengthening economic partnerships, including discussions with Egypt on trade cooperation and potential business opportunities.