As the ongoing oil crisis and artificial intelligence (AI) threaten the local workforce, Makati Business Club (MBC) is urging the government to affirm its commitment to good governance to help maintain investor confidence in the country.

“We call on our leaders to renew their commitment to transparency and institutional integrity as a form of service to the people,” MBC said in a statement as the country commemorated Labor Day on Friday, May 1.

The influential business group said building a climate of trust and upholding the rule of law will position the Philippines as a major source of talent and a preferred destination for high-value investments.

Corruption has long been a thorn in the country’s investment appeal. For instance, the multibillion-peso corruption scandal in flood control projects slowed the entry of foreign capital last year.

“It is through this synergy of human capital and ethical leadership that we can truly secure a prosperous and inclusive future for every Filipino worker,” MBC said.

The push for good governance comes as workers are facing the brunt of higher living costs caused by the current oil crisis triggered by the latest conflict in the Middle East.

For employers, the group said they are confronted with tighter margins and more difficult choices on pricing, investment, and jobs, including potential downsizing.

“This makes close cooperation between government, business, and labor essential to ensure targeted support, fair fuel pricing, and stronger energy security that protect both the economy and workers,” it said.

As a short-term measure, MBC is pushing the government to provide more targeted support for low-income workers, especially farmers, fisherfolk, and transport workers.

To ensure that the country’s workforce remains resilient beyond the current crisis, the business group said the government should implement intervention efforts to prepare for the wider adoption of AI.

While MBC noted that many existing jobs will not be replaced by AI, the group stressed that workers must be equipped with the right digital and cognitive skills to keep pace.

“As AI reshapes industries, the focus must be on reskilling and upskilling workers so technology augments rather than replaces livelihoods,” the group said.

“By investing in human capital, strengthening public-private partnerships (PPPs), and ensuring inclusive access to emerging technologies, we can build a more resilient, competitive, and future-ready Philippine economy,” it added.