Biz sector: Corona verdict a good start

CEBU, Philippines - As the Senate impeachment court voted to oust Chief Justice Renato Corona from the highest judicial post in the country, major industry players foresee a strong impact of such verdict to the local and national economy and to the business sector as a whole.This is what the business leaders in Cebu believe, saying that this step of arresting the “big fish” in “corruption business” has started to take off.

“The poor perception of our judiciary system by potential investors is a major stumbling block in attracting foreign direct investments (FDIs) to the Philippines — It is a serious concern. Corona is the first big fish to fall and the government must use this to further establish that the country is serious about reform and that we are open for business,” said Cebu Business Club president Dondi Joseph.

Although Joseph said there are still fundamental problems that must be simultaneously addressed in order to push the economy upward, but the impeachment result is a “good start.”

Joseph mentioned that aside from looking at the corrupt giants in the system, issues on low productivity and competitiveness, population and other social issues, education and visionary and competent political leadership in all levels of the government, must also be given equal attention.

Meanwhile, Mandaue Chamber of Commerce and Industry (MCCI) president Eric Ng Mendoza said in an interview that the closure of the 43-day impeachment trial gave an answer to a long awaited question the public, including the business sector, has been clamouring for the longest time.

He also described the trial as fair and complete with the observation of due process, putting more national credibility to the country’s reform agenda.

In favor of Article II (failure to declare all assets in the statements of assets, liabilities and net worth) of the impeachment complaint, he said that Corona is held accountable to declare all of his assets and should practice transparency considering he is part of the public office.

“He has to pay more honesty and transparency. Iya ra gisulod iyang kaugalingon sa kulambo. The Defence presented the Ombudsman as the evidence who has the open public knowledge. And they miscalculated it,” Mendoza said.

He then said that the closure of Corona’s case favors the business sector, giving the industry a “great relief” since more investors would like to come to a country with policy and in a reform status.

Mendoza said the outcome of the impeachment will result to more positive economic impact as it strengthens the country’s position on leveling the playing field.

“As to how the Aquino administration is trying to level the playing field, there is no big or small. Even though you have the highest position in the land, you are still accountable for what you do and what you have. Finally, it has been put to an end. Now it’s time to do our share (private sector) to become part of the solution to anti-corruption,” he stated.

Recognizing the cultivating effect of the trial and justice of the impeachment court, he also acknowledged how President Benigno Aquino III stood up to his commitment against graft and corruption, putting concrete action on what he promised during the election and making Philippines a strong republic.

Meanwhile, Cebu Chamber of Commerce and Industry (CCCI) president Prudencio Gesta encouraged the government to further commit itself to continuous efforts in fighting corruption among public officials.

“We hope that the direction of those running after corrupt officials will be sustained and will not just be limited to CJ Corona. It is not just for someone who has the highest seat of the land but for all,” he said.

Gesta believes that the impeachment result simply shows that the democratic process is working in the country and that check and balance is so important to improve transparency and accountability to all government officials regardless of status and position.

“As I see it, the impeachment verdict may bring positive impact to our economy as foreign investors find it a good signal—the seriousness of our government to improve its governance and in fighting corruption,” Gesta said.

Gesta added that the guilty verdict against Corona will inspire more investors to come in the Philippines.

“There are two things that the senator-judges based their decision – the legal and political aspect. Most of them based on the legal aspect and others based it on the popular sentiments of the people. The score of 20-3 is resounding, sending signals that the verdict is the right decision after all,” Gesta said.

Likewise, business leader Jay P. Adeguer believes that the conviction has certainly sent a positive sign that the government is dead set on cleaning up corruption in the country.

“It also demonstrates that democracy and its systems have prevailed in the country. All this will be good to our economy,” Aldeguer said.

Corona was convicted Tuesday and removed from office as Chief Justice for betrayal of public trust and failing to disclose all his assets.   

Twenty of the 23 senators, including Senate President and impeachment court presiding officer Juan Ponce Enrile, voted to convict Corona for his failure to fully disclose his wealth in his statement of assets, liabilities, and net worth (SALNs), based on Article 2 of the impeachment charges signed by 188 members of the House of Representatives.

Only three senators—Joker Arroyo, Miriam Defensor-Santiago and Ferdinand Marcos Jr., voted to acquit Corona. (FREEMAN)