The 1-million pork barrel movement at the Luneta Park held on Monday was watched and monitored by investors as it depends on President Benigno Aquino 3rd’s action if it will help boost investor confidence to the government or not.
Harry Liu, president of Summit Securities Inc., told The Manila Times that the market and business environment are driven by business confidence, which will either boost or drop depending on the President’s action on Monday’s protest.
“Good confidence will translate to good [market performance]. . . investors are watching the march and observing the process,” Liu said, referring to businessmen and investors monitoring the issue, which can influence investor confidence to the government.
With only about 75,000 people attending the protest to scrap the Philippine Development Assistance Fund (PDAF), Liu said that the movement will be beneficial for “good governance and economic growth.”
“The event is showing, or is the expression of our people’s concern for the betterment of our country, especially the younger generation is involved, too, and the people power is still alive in us,” Liu said.
“And this is one factor that is good for governance and economic growth. Business environment will improve. This gathering is not made by one group, but all individual concerned for better tomorrow for our country especially against corruption,” he added.
Liu noted that the President Aquino’s move regarding the PDAF should be beneficial “for the people” and that the government should take notice that “corruption is not acceptable” in our country, given that we are in a critical stage of developing the country.