Business groups have rallied behind Trade and Industry Secretary Alfredo Pascual in the Commission on Appointments process of confirming his Cabinet posting.

In a joint statement, groups led by the Philippine Chamber of Commerce and Industry, Employers Confederation of the Philippines, and the Philippine Exporters Confederation Inc. declared full support to Pascual.

"The economy is at a crucial juncture as the effect of the pandemic eases and the global economy heads towards a more volatile situation brought about by geo-political tensions, changing trade and investment patterns, and the advent of the Fourth Industrial Revolution," the statement read.

It added cognizant of the challenges, "we have expressed our support early in this administration for the President's appointment of Secretary Pascual to DTI."

170 chambers back DTI chief
The Federation of Filipino-Chinese Chambers of Commerce and Industry Inc., in a statement, cited the expertise of Pascual to head the DTI.

"We the 170 Filipino chambers of commerce and other diverse trade association nationwide under the FFCCCII fully supports President Ferdinand R. Marcos Jr.'s appointment of the accomplished former University of the Philippines President, former development banker, finance expert and business community stalwart Alfredo Pascual as Secretary of DTI," the FFCCCII statement said.

According to the Filipino-Chinese business group, Pascual has "exemplary intellectual, professional, business and moral qualifications to lead the DTI in supporting globally-competitive, innovative, sustainable and inclusive Philippine economic growth."

Full confidence
The Management Association of the Philippines with 1,100 members said that with his extensive experience and expertise, "Dr. Pascual will be able to professionally and competently pursue the DTI's mandate of realizing the country's goal of globally competitive and innovative industry and services sector that contributes to inclusive growth and employment generation."

The Financial Executives Institute of the Philippines, in which Pascual is a Life Member, said "Pascual will be able to provide direction to develop the country's trade and investment policies which may result in the country's improved competitiveness rating.