The Impeachment and Philippine Business

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Category: Business Soul

The impeachment drama involving Supreme Court Chief Justice Renato Corona has already dragged on for a month or so, with the actual impeachment trial before the Senate entering its second week. Impeachment may be a political exercise, but it's beyond doubt that it has repercussions in the business community, both among the Pinoy Entrepreneurs and foreign investors.

"Foreign investors unaffected by impeachment trial, say experts," the title of a PDI report declares, yet the article also quoted Mr. David Leechiu, country head of Jones Lang LaSalle: ". . . our credibility as a political institution needs a lot of restoration, and so how the world will see this thing is going to depend on how we conduct ourselves and whether it will stand scrutiny from the international community.”

Indeed, there's nothing wrong with the impeachment process per se. It should have no negative repercussions in business because it's the very mechanism provided in the Constitution, the highest law of the Philippines, for checks-and-balances among the branches of government. It's ideally an indicator that various institutions are working properly.

And when institutions and agencies work properly, it should be good for business. The crucial factor, as noted in that PDI article, is how the process is being used and how it is being implemented. [Poll: Do you believe that the impeachment process is being used and implemented properly? Please use the comment section below.]

The impeachment process is a full display of the government's awesome power (or the power of individuals holding these positions). The entire bureaucracy could zero-in on one person, Chief Justice Corona in this impeachment case. Both houses of Congress and the Office of the President. The Bureau of Internal Revenue (BIR). The Department of Justice (DoJ). These are some of the full resources at the disposal of government, using taxpayers money, of course.

The issue, as far as the impact on business is concerned, is not whether Chief Justice Corona should be found guilty by the impeachment court. The issue is not why the government could act with dispatch in certain instances, which would mean less roadblocks to Pinoy Entrepreneur if applied consistently.

The question is this: How would YOU, in the conduct of your business, react and feel if the same weight of government scrutiny is placed on your back? [Use the comment section below for your comments and suggestions.] It would be reassuring to know that individual rights are respected and procedural rules are followed by the agents of government.

In sum, the confidence of Pinoy Entrepreneurs and the international business community would most probably be affected by how processes in the Philippines are being used and how these processes are being implemented, with the current impeachment proceedings taking center stage.