Marcos asks for help from Filipino Chinese businessmen

President Ferdinand Marcos, Jr. meets with officials of the Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII). (Source: Bongbong Marcos/Twitter)
President Ferdinand Marcos, Jr. meets with officials of the Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII). (Source: Bongbong Marcos/Twitter)

President Ferdinand “Bongbong” Marcos Jr. asked for the help of Filipino-Chinese businessmen for the immediate revival of the Philippine economy on Friday (September 30).

The Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII) met with the president in the palace and talked of plans "to help get the country's economy back on its feet."

Dr. Henry Lim Bong Liong, FFCCCII president, was supportive of Marcos Jr.’s plan for the economy and was confident about the country’s recovery through "sound monetary and fiscal policies, positive macroeconomic and demographic fundamentals, and the new government's socio-economic plans."

Read: Finance chief Diokno lists bills for economic growth, Diokno says Marcos’s economic targets are more ambitious than Duterte’s)

"We are pleased they have eagerly responded to our call for a whole-of-nation approach to addressing this immense and arduous task," Marcos claimed.

He added, “We thank our friends from the Federation of Filipino Chinese Chambers of Commerce and Industry, Inc. for meeting with us yesterday and for sharing their ideas to speed up our country’s economic recovery from the pandemic.”

More details on the meeting have yet to be disclosed.

In early September, the Indonesian government under Joko Widodo pledged $8.48 billion in investment for infrastructure, coal and fertilizer supplies, and a variety of industries.

Two weeks ago, Marcos Jr. mentioned at the United Nations General Assembly (UNGA) that he sees the country becoming “moderately prosperous” by 2040. Meanwhile, National Economic and Development Authority (NEDA) socio-economic planning secretary Arsenio Baliscan believes that the Philippines achieving upper middle-income status might be delayed due to the COVID-19 pandemic.

Mark Ernest Famatigan is a news writer who focuses on Philippine politics. He is an advocate for press freedom and regularly follows developments in the Philippine economy. The views expressed are his own.

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