Economic officials and business leaders paid tribute to former President Fidel V. Ramos, equating his leadership with stability and growth.
Socio-economic Secretary Arsenio M. Balisacan offered condolences to the Ramos family on behalf of the National Economic and Development Authority.
“While in the academe, I saw firsthand and closely followed how his economic and social reform agenda, which centered on opening the economy and people empowerment, paved the way to foundational economic transformation,” Balisacan said.
“He provided the country with much-needed stability against threats from within. He was also a visionary. His foresight and steadfastness enabled the Philippines to weather the 1997 Asian financial crisis and be among the continent’s “Tiger Cub Economies.”
The seven chambers of the Joint Foreign Chambers of the Philippines remembered how they honored Ramos in 2013 with a Lifetime Achievement Award for “his outstanding contributions and superb leadership over several decades to achieve highly significant and lasting institutional and policy reforms of long-term benefit to the people and economy of the Republic of the Philippines.”
“We remember President Ramos for his strong efforts to promote foreign investment into the Philippines, to create jobs for Filipinos, and to reduce poverty in the country as a partner in all our chambers’ advocacy initiatives, from his visits to our capitals in Asia, Europe, and North America, and through reform legislation which he championed through the Philippine Congress.”
The JFC is a coalition of the American, Australian-New Zealand, Canadian, European, Japanese, Korean chambers, and PAMURI (Philippine Association of Multinational Companies Regional Headquarters Inc.). It represents over 3,000 member companies engaged in around $100 billion worth of trade and some $30 billion worth of investments in the Philippines.
“The Philippine Stock Exchange remembered Ramos as the chief architect for the unification of the Manila and Makati stock exchanges.
The Philippine Stock Exchange, Inc. (PSE) and its community of trading participants expressed sorrow on the passing of Former President Fidel V. Ramos, who was instrumental in the merger of the Manila Stock Exchange (MSE) and Makati Stock Exchange (MkSE) into PSE,” the group said in a statement.
“This is a proud tribute to his administration, now that we stand united as a stronger member of the capital market. He will always be considered a pillar and a vital part of PSE’s history. His demise is a great loss not only to our nation but to the Philippine business community as well,” said PSE Chairman Jose T. Pardo.
The Management Association of the Philippines (MAP) said the Ramos administration was distinguished by impressive reforms on energy, economic liberalization, infrastructure, and social reform, among others, which fueled an engine for national progress built on his twin themes of people empowerment and global competitiveness.
Ramos, the group said, “was an epitome of management excellence for nation-building.”
“His good governance program is unparalleled. He has undoubtedly served the country with the highest standards of professionalism, integrity, and transparency. His unifying leadership and passion for CSW (complete staff work) have become and should continue to be the benchmark for national and local governance,” it added.
Clark Development Corp. (CDC) President and CEO Manuel R. Gaerlan led CDC officers and employees in paying tribute to Ramos.
After the traditional flag-raising ceremony, Gaerlan requested a minute of silence and ordered the flag to be flown at half-staff in honor of his passing.
Gaerlan, who is a former police brigadier general and served as Ramos’ aide-de-camp, said that “President Ramos was the major catalyst for nation building during his term in 1992-1998. Under his leadership, CDC was established after he signed EO No. 80 in 1993.”
“This catapulted the creation of CDC as the implementing arm of BCDA in this Freeport. He will forever be remembered as a lead advocate in promoting economic development in the country,” he added.
