As the dust settles from the 2025 midterm elections, I find myself reflecting on what truly matters as we enter a new chapter in our national legislature. While politics continues to dominate the headlines, it's our economy—our ability to attract investments, support small businesses, and create sustainable jobs—that demands urgent, undivided attention.

For years, I've seen the business community raise the same concerns, yet they continue to be overlooked. We're weighed down by high electricity costs, unreliable logistics, and suffocating red tape. Meanwhile, the very sector we hail as the backbone of our economy, our micro, small, and medium enterprises (MSMEs), receives only lip service. Real support must be more than slogans; it requires strategic investment and legislative will.

One of the starkest examples is how far behind we are in MSME financing compared to our neighbors. The Philippines lent just $11.6 billion to MSMEs in 2019. Thailand, in the same period, lent over $218.2 billion. The disparity is alarming, and it tells us that while we speak of empowering small businesses, we are not backing it up with real resources.

Through ECOP’s advocacy, we continue to push for policy reforms that matter. We've long supported amendments to the Magna Carta for MSMEs, reforms in investment-related laws, and improvements in infrastructure and digitalization. But we need a Congress willing to champion these causes too, not just pass laws that sound good but fail to deliver real impact.

Another matter that must be approached with care is the ongoing push for a legislated wage hike. While the intention may be noble, the reality on the ground is more complicated. A blanket increase will help only a small minority of workers while hurting the vast majority, especially small businesses already struggling to stay afloat. It's a risk we cannot afford, especially now. There's a reason we have tripartite mechanisms—they're designed to ensure that decisions are balanced, inclusive, and sustainable.

Investors are watching all of this unfold. And what they see, unfortunately, is a country struggling with policy inconsistency, scandals, and a legislative agenda that too often chases headlines instead of long-term reform. We were once among the top choices for firms exiting China. Now, we're barely on the list. That’s a wake-up call.

We need to change the narrative. We need to build credibility. And we need to show, through sound laws and firm leadership, that the Philippines is open for business in the truest sense.

At ECOP, we remain committed to being a steady voice for employers. Our work in policy advocacy, capacity-building, and social dialogue continues, and we invite our leaders in government to walk with us on this journey. Let's focus on what really matters. Let's reform where it counts. Let's rebuild this economy together.