The Philippine Chamber of Commerce and Industry (PCCI) and the Federation of Philippine Industries (FPI) have extended their congratulations to newly appointed Finance Secretary Frederick Go and newly named Executive Secretary Ralph Recto.

In two separate releases on Tuesday, 18 November 2025, both organizations commended the appointments, citing the crucial timing for economic leadership and policy stability.

“The Philippine Chamber of Commerce and Industry extends its warmest congratulations to Executive Secretary Ralph Recto and Finance Secretary Frederick Go on their recent appointments,” the PCCI said.

Key selections

“We commend President Marcos for these key selections, which come at a critical time for our economy. Executive Secretary Recto brings a wealth of legislative and policy expertise, while Secretary Go’s strong background in business and investment promotion will be valuable in steering fiscal policy and driving economic growth,” said the officers and members of the leading organization representing the private business community in the country.

“The business community looks forward to working closely with both leaders in advancing reforms that enhance competitiveness, strengthen investor confidence, and generate sustainable opportunities for Filipino enterprises,” they stressed.

The FPI issued a similar message of support. “These transitions come at a crucial time for policy coherence, fiscal stability, and investor confidence. FPI affirms its support for continuity and coordination across government agencies to sustain economic momentum,” the organization said.

Commitment to integrity and transparency

It added that the promotion of former Finance Undersecretary Charlito Martin Mendoza as Bureau of Internal Revenue commissioner “underscores a commitment to integrity and transparency at the BIR — foundations essential to fair enforcement, modernization, and the predictable environment that businesses need to grow and create jobs.”

Go and Recto assumed their new posts following the resignation of Lucas P. Bersamin as Executive Secretary amid his office’s implication in the ongoing “Floodgate” scandal. Mendoza was announced as the new BIR chief last week; the government has not disclosed why outgoing commissioner Jun Lumagui’s three-year tenure suddenly ended.

Both PCCI and FPI emphasized their optimism that the latest Cabinet changes would strengthen investor confidence and support economic growth in the coming months.