Market operator embraces Recto
As a long-standing public servant, his dedication, hard work, extensive experience, and innate desire to uplift the lives of Filipinos will be an invaluable asset to President Marcos’ economic team
Daily TribuneAs a long-standing public servant, his dedication, hard work, extensive experience, and innate desire to uplift the lives of Filipinos will be an invaluable asset to President Marcos’ economic team
Familiar with the capital market, freshly-minted Finance Secretary Ralph Recto is expected to fast-track fiscal reforms necessary to ensure economic growth, which will help boost investor confidence.
Bourse operator Philippine Stock Exchange said in a statement that its board of directors and management team congratulate Recto on his appointment, in place of Benjamin Diokno.
“As a long-standing public servant, his dedication, hard work, extensive experience, and innate desire to uplift the lives of Filipinos will be an invaluable asset to President Marcos’ economic team,” according to the PSE.
It added that Recto is not a stranger to the capital market. “He is the legislator behind RA 9243 or the act rationalizing the provisions on the Documentary Stamp Tax of the National Internal Revenue Code of 1997 which introduced for the first time a documentary stamp tax exemption for stock transactions through the local stock exchange,” the PSE indicated.
“We extend our full support and best wishes to Secretary Recto on his new role and look forward to working with him in introducing reforms to further develop the Philippine capital market,” the PSE statement read.
