Business groups call Marcos' election protest a 'political distraction'

MANILA, Philippines – Business leaders, who typically distance themselves from political matters, welcomed the latest decision of the Supreme Court (SC) on the electoral protest of losing candidate Ferdinand Marcos Jr against Vice President Leni Robredo.

On Thursday, October 17, the Financial Executives Institute of the Philippines, Institute of Corporate Affairs, Bishops-Businessmen's Conference, and Judicial Reform Initiative joined the Makati Business Club (MBC) in saying that the judiciary is better off handling other matters than Marcos' complaint.

"The signatory institutions believe that an expeditious resolution of the protest would spare our policymakers and leaders from the political distraction – at a time when focus on more fundamental challenges facing the country is critical," their joint statement read.

"In the face of turbulence in both the domestic and international markets, the decision provides confidence in the Philippine judiciary's commitment to the rule of law – so fundamental to investor confidence," they added.

On Tuesday, October 15, the SC, acting as the Presidential Electoral Tribunal, ruled to release the results of the recount of votes in the 3 pilot provinces picked by Marcos – Negros Oriental, Iloilo, and Camarines Sur. (READ: CHEAT SHEET: The Marcos vs Robredo electoral protest)

The business groups said the decision reassured the public of the SC's "commitment to transparency and fairness."

The MBC earlier said in a separate statement that dismissing the case would reduce the political and judicial uncertainty that came with it, and also boost investor confidence.

Robredo and Marcos were asked to submit their comments on the results in the 3 pilot provinces and the motion to nullify the results in Lanao del Sur, Basilan, and Maguindanao. – Rappler.com

Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.

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