Palace sees political noise won’t affect business community

Communications Secretary Sonny Coloma (Photo: Presidential Communications Operation Office)

MANILA – Malacanang on Thursday expressed optimism that the political noise triggered by Vice President Jejomar Binay’s resignation from the Cabinet will not affect the business sector.

”The business sector based their decision on the economic fundamentals,” Presidential Communications Operations Office (PCOO) Secretary Herminio Coloma Jr.

said in a press statement.

Last Monday, Binay tendered his irrevocable resignation as Presidential Adviser on Overseas Filipinos Workers Concerns and as chairman of the Housing and Urban Development Coordinating Council (HUDCC).

”Due to the respectable forecast of the international and local business community, the political issues will not frighten their confidence on the national economic under Aquino administration,” Coloma said.

Three days after stepping down from the Cabinet, the Vice President slammed what he described as numb and inept administration of President Benigno Aquino III.

Aside from attacking the present government, Binay declared himself as head of the opposition.

Binay, who has repeatedly expressed plan to run for president in 2016, said he would offer a compassionate and effective government.

In response, President Aquino said he and his Cabinet secretaries would answer ‘point-by-point’ all the allegations of the Vice President.

Under the Aquino administration, the Philippines became one of the countries in Asia with highest economic growth.

The ‘Tuwid na Daan’ (straight path) policy of the Aquino administration has earned recognition from international community, particularly the leading international credit rating agencies.