Amid yet another round of political upheaval—this time sparked by widespread corruption in infrastructure projects—leading Filipino business leaders remain confident that once the noise subsides, the Philippines will again find its path to growth, its resilience tempered by decades of far darker shocks.
Since the 1970s, the Philippines has weathered the declaration of Martial Law, devastating debt crises, political assassinations, multiple coup attempts, abrupt shifts in government, and even presidential impeachments—surviving and rebuilding through each convulsion.
“Our nation is not perfect. Our people are not perfect. Yet many of us remain here and keep going, because we believe that hope is stronger than hardship,” said billionaire Hans Sy as he received the Management Person of the Year award from the Management Association of the Philippines on Monday. “Life in the Philippines, no matter how difficult, is worth the struggle. And in time, things do get better.”
Sy, the third in his family to receive the prestigious MAP accolade, said the SM Group is no stranger to risks and political swings, and underscored the need for steadfastness. “It is painful to see our country suffer because of the faults of a few. But when the road gets rough, you do not stop and turn back. You keep your hands on the wheel and stay the course,” he said. “Despite the risks, the noise, and the many uncertainties, I have never doubted our country’s promise or the strength of the Filipino spirit.”
Across town that same day, business tycoon Manuel V. Pangilinan acknowledged the drag that political turmoil is exerting on the economy as he joined his team at Manila Electric Co. for an early Christmas thanksgiving gathering.
“It is affecting sentiment,” Pangilinan told journalists. “But I think we will get over this.”
Asked whether—like his friend and San Miguel Corp. chair Ramon S. Ang—he had heard talk of business leaders being tapped to act as a government “caretaker,” Pangilinan replied: “We don’t want to deal with politics. I can only wish the best for the country. At this time, the President deserves our support—he needs our support—and we should support him. And the First Lady, too.”
Days earlier, Ang likewise distanced himself from political speculation. “Most people know me as someone who works quietly in business—building projects, fixing what I can, and supporting government and communities. That is where I believe I can contribute the most, and that is where I intend to stay.”
“Our country is facing many challenges, and it is understandable that people want things resolved quickly. But moving forward will never depend on one individual. It will take government, the private sector, and the public all moving in the same direction,” Ang said in a statement addressing the rumors. “My focus is to support that effort. I will be a dependable partner in building our country—nothing more.”
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