Manila: The latest movement in the Cabinet is expected to help reassure the public about the Philippines’ economic stability and help boost growth, amid the investigations on anomalous government infrastructure projects, the Philippine Chamber of Commerce and Industry (PCCI) said on Wednesday.

According to Philippines News Agency, on Monday, Malaca±ang announced the appointment of former Finance Secretary Ralph Recto as the new Executive Secretary, replacing Lucas Bersamin, and Special Assistant to the President for Investment and Economic Affairs Frederick Go as the new Department of Finance (DOF) Secretary.

Bersamin and Department of Budget and Management (DBM) Secretary Amenah Pangandaman resigned from their posts ‘out of delicadeza’ after their names came out in the ongoing investigation on government infrastructure projects. Pangandaman was replaced by DBM Undersecretary Rolando Toledo as officer-in-charge.

‘We commend President (Ferdinand R.) Marcos (Jr.) 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,’ PCCI President Consul Enunina Mangio said in a statement.

Mangio said ‘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.

‘We urge our government to swiftly address this political instability and hold those involved in corruption accountable. This is one way of restoring investors trust and confidence in us (Philippines),’ she said. She vowed the group’s commitment to support the government in the bid to ensure a resilient, transparent, and dynamic economic environment.